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August 16, 2024
Real Estate Value

Barron’s feature: Real Estate Is Staging a Comeback. 6 Ways to Play It.

Key Takeaways Include:

  • Those looking to bargain-hunt the real estate sector might want to consider the more value-oriented Third Avenue fund, which has beaten 93% of its fund peers* in the past five years.
  • “The REIT sector is now trading at a noticeable discount to the S&P 500 in terms of cash flow multiples…we haven’t seen the REIT index at a discount really outside of the pandemic, the 2008-09 financial crisis, and the early 2000s.”
  • Historically the strategy has not favored REITS, which consequently contributed to its strong relative outperformance in rising rate environments.  However, the percentage invested in REITS has been gradually increasing to about 30% today.
  • High expectations for the recent purchase of Sun Communities, which owns manufactured housing communities and marinas, due to incredibly scarce assets and high barriers to entry.
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watch video here

Mutual fund investing involves risk, including loss of principal. For a copy of the prospectus click here, read it carefully before investing.

Top 10 holdings and standardized performance click here.

*Morningstar 5-year peer group rating out of 174 funds in the Global Real Estate Category as of 7/31/24, based on risk adjusted returns.

Distributor of Third Avenue Funds: Foreside Fund Services, LLC.

For additional important information please visit: https://www.thirdave.com/strategy-tarex

Past performance is no guarantee of future results; returns include reinvestment of all distributions. The chart represents past performance and current performance may be lower or higher than performance quoted above. Investment return and principal value fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For the most recent month-end performance, please visit the Fund’s website at www.thirdave.com or call 800-443-1021.

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