US REITs

“Buy land, they’re not making it anymore.” A diversified portfolio of US listed real estate that seeks to generate a yield higher than the broader equity market.

Strategy Description

“Buy land, they’re not making it anymore.” US REITs are listed real estate investments that pay high dividends and pass through their rental income to investors. They can be viewed as a hybrid between equities and bonds as they must pay out most of the income received.

Real estate, by its very nature of being a physical and limited asset provides potential inflation protection for investors.  REITs benefit from inflation in 2 ways:

  • Capital appreciation the value of properties and land owned increases
  • Rent increases regularly negotiated leases can be increased in line with inflation

The portfolio targets a diversified exposure across major real estate categories – office, retail, industrial, healthcare and specialty real estate – as well as geographically within the US and abroad. 

We score ~200 real estate names on Value, Quality, Safety, Payout, Technical and Sentiment characteristics to build a portfolio that targets a yield of ~4-5% per year. This robust quantitative scoring process ensures lesser-known but still excellent real estate companies are included. 

International investors can also access this strategy in a Global Exposure and a Japanese Exposure

PrintFact Sheet

Portfolio Performance

2021YTD
Portfolio (%)11.36-22.18
Annualized ReturnStandard DeviationDividend Yield
Portfolio-12.37%22.59%6%

Allocation Breakdown

Asset Class


Equity99.34%
Fixed Income0
Commodities0
Cash0.66%

Geo


America100%
Greater Europe0
Developed Asia0
Emerging Asia0
Central/Latin America0

Sector


Diversified REITs8.47%
Healthcare REITs11.13%
Industrial REITs5.95%
Office REITs19.81%
Real Estate Operating Companies6.9%
Retail REITs21.84%
Specialized REITs25.26%

Top Holdings

Asset ClassWeight (%)
1. Iron Mountain Inc9.37%
2. VICI Properties Inc9.12%
3. WP Carey Inc8.44%
4. National Retail Properties Inc7.85%
5. Simon Property Group Inc7.07%
6. American Tower Corp6.95%
7. Kennedy-Wilson Holdings Inc6.91%
8. Spirit Realty Capital Inc6.80%
9. LXP Industrial Trust6.01%
10. Ventas Inc5.70%