China will have 'many fans' in the global south of its approach to AI development: The Asia Group
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27 minutes ago
- Yahoo
Here's Why Baron Real Estate Fund Sold Extra Space Storage (EXR) in Q2
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. Shop Top Mortgage Rates A quicker path to financial freedom Your Path to Homeownership Personalized rates in minutes In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Extra Space Storage Inc. (NYSE:EXR). Extra Space Storage Inc. (NYSE:EXR) is a self-administered and self-managed REIT. The one-month return of Extra Space Storage Inc. (NYSE:EXR) was -8.88%, and its shares lost 15.55% of their value over the last 52 weeks. On August 1, 2025, Extra Space Storage Inc. (NYSE:EXR) stock closed at $139.30 per share, with a market capitalization of $30.87 billion. Baron Real Estate Fund stated the following regarding Extra Space Storage Inc. (NYSE:EXR) in its second quarter 2025 investor letter: "We also sold our position in Extra Space Storage Inc. (NYSE:EXR) during the quarter. While we are long-term bullish on the prospects for self storage real estate (excellent real estate businesses with less cyclical demand, pricing power, low capital intensity, scale advantages), we are concerned that lackluster existing home sales caused by the well-known 'lock in effect' may weigh on self-storage demand and market rents for longer than is widely believed. We view current share price valuations as fair, not overly cheap. As such, for now we opted to reallocate capital to other investments with superior return potential. We may revisit Extra Space Storage, a best-in-class company, in the future." An aerial view of a self-storage facility, its parking lot full with cars and RV's. Extra Space Storage Inc. (NYSE:EXR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Extra Space Storage Inc. (NYSE:EXR) at the end of the first quarter which was 36 in the previous quarter. While we acknowledge the potential of Extra Space Storage Inc. (NYSE:EXR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Extra Space Storage Inc. (NYSE:EXR) and shared the list of best REIT stocks to buy according to billionaires. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27 minutes ago
- Yahoo
Baron Real Estate Fund Trimmed American Tower Corporation (AMT) to Manage the Position Size
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as American Tower Corporation (NYSE:AMT). American Tower Corporation (NYSE:AMT) is a leading independent multitenant communications real estate operator. The one-month return of American Tower Corporation (NYSE:AMT) was -4.35%, and its shares lost 9.61% of their value over the last 52 weeks. On August 1, 2025, American Tower Corporation (NYSE:AMT) stock closed at $212.10 per share, with a market capitalization of $99.316 billion. Baron Real Estate Fund stated the following regarding American Tower Corporation (NYSE:AMT) in its second quarter 2025 investor letter: "American Tower Corporation (NYSE:AMT) was one of the Fund's top purchases early in the first quarter. Shares performed well and in a more compressed timeline than we had anticipated. We modestly reduced our investment to manage overall position sizing while sourcing capital for other investment opportunities. American Tower is a global owner of 150,000 wireless tower communication sites with a heavy emphasis on developed markets. Our optimism regarding the long-term growth prospects for American Tower remain unchanged given strong secular growth expectations for mobile data usage, 5G spectrum deployment and network densification (with 6G around the corner), edge computing (possible requirement of mini data centers next to a tower presents an additional revenue opportunity), and growth in connected Internet of Things devices (e.g. homes and cars), which will require more wireless bandwidth usage and continued increased spending by the mobile carriers." A wide angled view of a high-rise office building, the windows reflecting a nearby cityscape. American Tower Corporation (NYSE:AMT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 73 hedge fund portfolios held American Tower Corporation (NYSE:AMT) at the end of the first quarter which was 70 in the previous quarter. While we acknowledge the potential of American Tower Corporation (NYSE:AMT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered American Tower Corporation (NYSE:AMT) and shared the list of best strong buy stocks that pay dividends. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
27 minutes ago
- Yahoo
Tesla approves $29bn share award to Elon Musk
Tesla's board has signed off a $29bn (£21.8bn) share award to Elon Musk after a court blocked an earlier package worth almost double that sum. The new award, which amounts to 96 million new shares, is not just about keeping the electric vehicle (EV) firm's founder in the driving seat as chief executive. The new stock will also bolster his voting power from a current level of 13%. Money latest: He and other shareholders have long argued that boosting his interest in the company is key to maintaining his focus after a foray into the trappings of political power at Donald Trump's side - a relationship that has now turned sour. Musk is angry at the president's tax cut and spending plans, known as the big beautiful bill. Tesla has also suffered a sales backlash as a result of Musk's past association with Mr Trump and role in cutting federal government spending. The company is currently focused on the roll out of a new cheaper model in a bid to boost flagging sales and challenge steep competition, particularly from China. The headwinds have been made stronger as the Trump administration has cut support for EVs, with Musk admitting last month that it could lead to a "few rough quarters" for the company. Read more: Tesla faces losing billions after Musk-Trump fallout Tesla is currently running trials of its self-driving software and revenues are not set to reflect the anticipated rollout until late next year. Musk had been in line for a share award worth over $50bn back in 2018 - the biggest compensation package ever seen globally. But the board's decision was voided by a judge in Delaware following a protracted legal fight. There is still a continuing appeal process. Earlier this year, Tesla said its board had formed a special committee to consider some compensation matters involving Musk, without disclosing details. The special committee said in the filing on Monday: "While we recognize Elon's business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging... we are confident that this award will incentivize Elon to remain at Tesla". It added that if the Delaware courts fully reinstate the 2018 "performance award", the new interim grant would either be forfeited or offset to ensure no "double dip". The new compensation package is subject to shareholder approval.
