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Traditional Real Estate Is This Fund's Desired Location

Steady performance in a variety of markets, low fees, and topnotch stewardship earn T. Rowe Price Real Estate a Gold Analyst Rating.

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The following is our latest Fund Analyst Report for T. Rowe Price Real Estate Fund (TRREX) (). Morningstar Premium Members have access to full analyst reports such as this for more than 1,000 of the largest and best mutual funds. Not a Premium Member? Gain full access to our analyst reports and advanced tools immediately when you try Morningstar Premium free for 14 days.

T. Rowe Price has been managed since its 1997 inception by David Lee, using a strategy that's focused on the long term and thoroughly grounded in fundamentals. With the help of a small team of analysts, Lee seeks out REITs (and some real estate operating companies) that are managed well, likely to keep growing at a steady pace, and trading below the net asset value of their underlying real estate assets. He tends to hold on to favorite stocks for a long time, so turnover is very low, under 10% annually in recent years, and nine of the 10 largest holdings (as of March 31, 2016) have been in the portfolio for more than a decade.

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David Kathman does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.