DoubleLine Real Estate and Income Fund - Class N
DLREX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Real Estate
- Industry
- Real Estate - General
- Address
- 2002 N. Tampa St., Tampa FL United States of America 33602
- IPO Date
- Dec 17, 2018
- CIK
- 0001480207
- Similar Companies
- Business
- DoubleLine Real Estate and Income Fund - Class N (DLREX) is a mutual fund managed by DoubleLine Capital LP that seeks total return, consisting of capital appreciation and current income, in excess of the Dow Jones U.S. Select REIT Index over a full market cycle. The fund invests principally in an actively managed portfolio of short- to intermediate-term fixed-income securities, including mortgage-backed securities, Treasuries, corporate securities and international debt; it also employs derivatives such as futures contracts, options on futures, interest rate swaps, total return swaps and credit default swaps to provide synthetic exposure to the Colony Capital Fundamental US Real Estate Index, a rules-based smart-beta index comprising common stocks of at least 25 equity REITs (excluding mortgage REITs) selected from U.S. exchanges based on fundamental real estate investing criteria like market capitalization over $1 billion, average daily trading value, and risk mitigation factors. DoubleLine Capital LP, founded in 2009 and headquartered in Tampa, Florida, following a relocation from Los Angeles in 2022, serves as the investment adviser, with Jeffrey Gundlach as chief investment officer and Jeffrey Sherman as deputy chief investment officer and portfolio managers. The fund targets institutional and retail investors seeking diversified exposure to U.S. real estate equities via derivatives combined with fixed-income income generation; it operates primarily in U.S. markets but may include international debt and emerging market elements through its fixed-income sleeve. Launched on December 17, 2018, as the DoubleLine Colony Real Estate and Income Fund in partnership with Colony Capital, Inc., which developed the underlying real estate index, the strategy leverages DoubleLine's fixed income expertise alongside Colony's 27 years of real estate investment principles. The fund is part of the DoubleLine Funds Trust and is distributed by Quasar Distributors, LLC, with share classes including Class I (DBRIX) and Class N (DLREX); net assets stand at approximately $6.68 million. No major acquisitions, funding rounds, new product launches, strategic shifts, or operational changes specific to DLREX have been reported in the last 1-2 years; the fund maintains its core dual-sleeve approach amid ongoing monthly dividend distributions, with the last payment of $0.0308 per share on October 26, 2023, though yield has since registered at 0% TTM amid market conditions. DoubleLine Capital continues to expand its broader product suite, including related offerings like the DoubleLine Commercial Real Estate ETF (DCRE), which focuses on investment-grade commercial mortgage-backed securities, but DLREX remains focused on its REIT index overlay and fixed-income strategy without noted reorganizations or name changes post-launch.