Plimoth Trust Reduces Stake in Vanguard Real Estate ETF by 22.2%

Plimoth Trust Co. LLC has reduced its holdings in the Vanguard Real Estate ETF (NYSEARCA: VNQ) by 22.2% in the third quarter of 2023, according to its recent 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 27,250 shares of the ETF, having sold 7,773 shares during the quarter. As of the end of September, these holdings were valued at approximately $2,491,000.

In addition to Plimoth Trust’s actions, other institutional investors have also made significant adjustments to their positions in the Vanguard Real Estate ETF. For instance, Gallagher Fiduciary Advisors LLC reported an astonishing increase of 8,739.3% in its stake during the second quarter, bringing its total to 5,717,725 shares, valued at $509,221,000.

State Street Corp also expanded its investment, increasing its position by 735.3% in the same period. This growth resulted in 1,592,905 shares worth approximately $141,864,000. Similarly, Goldman Sachs Group Inc. increased its holdings by 33.5% during the first quarter, now owning 4,696,203 shares valued at around $425,194,000.

Corient Private Wealth LLC and Beacon Capital Management Inc. were also part of this trend, raising their stakes in the Vanguard Real Estate ETF by 97.2% and 1,568.1%, respectively. Corient now holds 2,220,304 shares valued at $197,740,000, while Beacon owns 1,001,170 shares worth approximately $89,164,000. Overall, institutional investors and hedge funds control 60.03% of the ETF’s stock.

Current Performance and Market Position

As of Monday, the Vanguard Real Estate ETF opened at $88.86. The ETF’s performance metrics indicate a 50-day moving average of $89.83 and a 200-day moving average of $90.28. The fund holds a market capitalization of $33.52 billion, with a price-to-earnings (PE) ratio of 35.58 and a beta of 1.03. Over the past year, the ETF has seen a low of $76.92 and a high of $94.95.

The Vanguard Real Estate ETF serves as an open-end investment vehicle that invests primarily in stocks issued by real estate investment trusts (REITs). These entities focus on acquiring various types of commercial properties, including office buildings and hotels. The ETF tracks the performance of the MSCI US REIT Index, providing a comprehensive gauge of the real estate market in the United States.

The Vanguard Group, Inc. provides investment advisory services to the fund, ensuring that it remains aligned with its investment objectives. As institutional interest continues to shift, the Vanguard Real Estate ETF will likely remain a focal point for investors looking to capitalize on the evolving real estate sector.