Baron Funds, an investment management company, released its “Baron Real Estate Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund had a strong performance in 2023 and generated a gain of 25.04% (Institutional Shares). This is more than double the MSCI US REIT Index (the REIT Index), which rose 12.27% and also outperformed the MSCI USA IMI Extended Real Estate Index’s 23.09% return. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Real Estate Fund featured stocks such as Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter 2023 investor letter. Headquartered in Reno, Nevada, Caesars Entertainment, Inc. (NASDAQ:CZR) is a gaming and hospitality company. On January 22, 2024, Caesars Entertainment, Inc. (NASDAQ:CZR) stock closed at $45.81 per share. One-month return of Caesars Entertainment, Inc. (NASDAQ:CZR) was -2.16%, and its shares lost 9.00% of their value over the last 52 weeks. Caesars Entertainment, Inc. (NASDAQ:CZR) has a market capitalization of $9.882 billion.
Baron Real Estate Fund stated the following regarding Caesars Entertainment, Inc. (NASDAQ:CZR) in its fourth quarter 2023 investor letter:
“In the most recent quarter, we acquired additional shares in Caesars Entertainment, Inc. (NASDAQ:CZR), the largest casino-entertainment company in the U.S. and one of the world’s most diversified casino-entertainment providers. We are big fans of CEO Tom Reeg and remain optimistic about the long-term prospects for the company.
The company operates primarily under the Caesars, Harrah’s, Horseshoe, and Eldorado brand names. The company generates approximately 50% of its cash flow from Las Vegas and 50% from regional destination markets. The company owns approximately half of its real estate and leases the other half from gaming REIT companies – Gaming and Leisure Properties, Inc. and VICI Properties Inc…” (Click here to read the full article)
A general view of a luxury resort casino, surrounded by a beautiful landscape and illuminated at night.
Caesars Entertainment, Inc. (NASDAQ:CZR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held Caesars Entertainment, Inc. (NASDAQ:CZR) at the end of third quarter which was 65 in the previous quarter.
We discussed Caesars Entertainment, Inc. (NASDAQ:CZR) in another article and shared the list of stocks whose price targets were recently trimmed by analysts. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
