T. Rowe Price Real Estate Fund
PAREX
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
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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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
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Dec 30, 2004
- CIK
- 0001046404
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Real Estate Fund (Advisor Class) (PAREX) is an open-end mutual fund that seeks long-term growth through a combination of capital appreciation and current income by investing at least 80% of its net assets in the equity securities of real estate companies, including real estate investment trusts (REITs), real estate operating companies, and firms deriving substantial revenues from real estate services; up to 20% may be allocated to other securities. The fund employs a mid-cap blend investment style, with a portfolio predominantly in U.S. stocks (approximately 99.5%), focused on the real estate sector (98.85%), and top holdings including American Tower Corp., Equinix Inc., Welltower Inc., Prologis Inc., and Public Storage. It targets investors seeking exposure to real estate equities, with a minimum initial investment of $2,500 for Advisor Class shares ($1,000 for IRAs), a net expense ratio of 1.19%, and daily pricing. Launched on December 31, 2004, as an Advisor Class share of the broader T. Rowe Price Real Estate Fund (inaugurated in 1997), PAREX is domiciled in the United States and managed by Gregg Korondi, CFA, who assumed portfolio management responsibilities on January 1, 2024, bringing expertise from prior roles in real estate investment analysis. The fund operates under T. Rowe Price Group, Inc., a global asset manager founded in 1937 and headquartered at 1307 Point Street in Baltimore, Maryland, with approximately $692 million in total net assets for PAREX and availability primarily to U.S. investors through financial intermediaries. Recent developments include a strategic partnership between T. Rowe Price Group and Goldman Sachs Asset Management, announced in 2025, involving a potential $1 billion investment by Goldman Sachs for a 3.5% stake and the launch of co-branded model portfolios in December 2025, such as the Goldman Sachs T. Rowe Price Dynamic ETF Portfolio and Tax-Aware Dynamic Hybrid Portfolio, aimed at RIAs and high-net-worth clients with future expansions into private markets and direct indexing. While fund-level acquisitions or product launches specific to PAREX remain unreported, T. Rowe Price Group's broader initiatives, including preliminary November 2025 assets under management of $1.79 trillion and portfolio turnover of around 6-10%, support ongoing operational enhancements. The fund maintains low turnover and focuses on high-quality real estate companies with income-producing potential, amid manager-led adjustments post-Korondi's appointment.