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Asset Manager ← All Institutions

CENTERSQUARE INVESTMENT MANAGEMENT LLC

161 WASHINGTON STREET SEVENTH FLOOR, CONSHOHOCKEN, PA 19428 • 6108349500

Q4 2025 · Filed 2026-02-12
Market Value
$10.1B
+1.8%
Holdings
86
+5
New Purchases
6
Added To
41
Closed
6
Reduced
26
Top 10 Concentration
52.5%
Turnover
14.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PLD 8.32% 7.51% +0.81% $842M
WELL 10.16% 9.41% +0.75% $1.0B
MAC 1.16% 0.47% +0.69% $117M
SBRA 0.50% 0.00% +0.50% $50M
VTR 4.96% 4.56% +0.40% $502M
BRX 3.21% 2.81% +0.39% $325M
PSA 3.68% 3.32% +0.35% $373M
IVT 0.36% 0.05% +0.31% $36M
SLG 0.30% 0.00% +0.30% $31M
ARE 0.77% 0.48% +0.29% $78M
ADC 2.35% 2.07% +0.28% $238M
FR 1.50% 1.24% +0.26% $152M
ELS 1.46% 1.20% +0.26% $147M
EGP 0.74% 0.51% +0.24% $75M
HR 1.00% 0.78% +0.22% $101M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DOC 0.83% 2.72% -1.89% $84M
FRT 0.60% 1.29% -0.69% $61M
NNN 0.00% 0.61% -0.61% $0
IRM 2.16% 2.58% -0.42% $218M
DLR 5.04% 5.42% -0.37% $511M
EQR 1.39% 1.75% -0.35% $141M
VNO 0.99% 1.29% -0.30% $100M
HST 1.36% 1.67% -0.30% $138M
BNL 0.64% 0.91% -0.27% $65M
VICI 1.16% 1.41% -0.25% $117M
EXR 3.90% 4.14% -0.23% $395M
EQIX 6.76% 6.97% -0.21% $684M
BXP 1.16% 1.36% -0.21% $117M
CUZ 1.49% 1.65% -0.16% $151M
REXR 1.09% 1.25% -0.15% $111M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Real Estate 99.9%
Consumer Cyclical 0.1%
Utilities 0.0%
Communication Services 0.0%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 37 $7.7B 75.7%
Mid Cap 36 $2.3B 22.6%
Small Cap 13 $181M 1.8%

Portfolio Analytics

Avg Market Cap
$20.4B
Median Market Cap
$9.0B
Avg P/E
40.2
Median P/E
28.2
Avg Dividend Yield
0.12%
Avg Beta
0.96
# Stocks
86
# ETFs / Funds
0

Top Holdings (86 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 WELL 10.16% 5,542,002 $1.0B $185.61 $92M +284,812 +5.4%
2 PLD 8.32% 6,599,019 $842M $127.66 $95M +73,925 +1.1%
3 EQIX 6.76% 893,230 $684M $766.16 -$10M +7,270 +0.8%
4 DLR 5.04% 3,301,513 $511M $154.71 -$28M +182,644 +5.9%
5 VTR 4.96% 6,491,417 $502M $77.38 $48M +7,300 +0.1%
6 EXR 3.90% 3,034,077 $395M $130.22 -$17M +113,380 +3.9%
7 PSA 3.68% 1,435,967 $373M $259.50 $42M +290,360 +25.4%
8 UDR 3.40% 9,389,350 $344M $36.68 $17M +592,992 +6.7%
9 BRX 3.21% 12,384,526 $325M $26.22 $45M +2,275,242 +22.5%
10 CPT 3.07% 2,828,602 $311M $110.08 $20M +98,130 +3.6%
11 SPG 2.80% 1,531,581 $284M $185.11 -$2M +7,600 +0.5%
12 KIM 2.58% 12,905,449 $262M $20.27 $810K +970,276 +8.1%
13 O 2.42% 4,346,751 $245M $56.37 -$3M +265,200 +6.5%
14 ADC 2.35% 3,299,172 $238M $72.03 $32M +402,943 +13.9%
15 IRM 2.16% 2,631,453 $218M $82.95 -$38M +116,989 +4.7%
16 KRG 1.95% 8,236,790 $197M $23.97 $16M +105,830 +1.3%
17 AMH 1.94% 6,135,358 $197M $32.10 $22M +864,078 +16.4%
18 INVH 1.80% 6,552,879 $182M $27.79 -$5M +177,494 +2.8%
19 FR 1.50% 2,649,757 $152M $57.27 $28M +252,650 +10.5%
20 CUZ 1.49% 5,847,176 $151M $25.78 -$13M +179,036 +3.2%
21 OHI 1.47% 3,347,215 $148M $44.34 $9M +47,020 +1.4%
22 ELS 1.46% 2,433,155 $147M $60.61 $28M +469,777 +23.9%
23 ESS 1.42% 548,017 $143M $261.68 $5M +31,261 +6.0%
24 AHR 1.40% 3,021,872 $142M $47.06 $12M -80,971 -2.6%
25 EQR 1.39% 2,238,709 $141M $63.04 -$33M -448,228 -16.7%
26 HST 1.36% 7,792,559 $138M $17.73 -$28M -1,961,795 -20.1%
27 VICI 1.16% 4,173,251 $117M $28.12 -$23M -126,232 -2.9%
28 MAC 1.16% 6,354,661 $117M $18.46 $71M +3,808,336 +149.6%
29 BXP 1.16% 1,735,946 $117M $67.48 -$18M -87,564 -4.8%
30 REXR 1.09% 2,862,569 $111M $38.72 -$13M -159,770 -5.3%
31 HR 1.00% 5,970,456 $101M $16.95 $23M +1,645,208 +38.0%
32 VNO 0.99% 3,003,497 $100M $33.28 -$29M -168,764 -5.3%
33 NHI 0.87% 1,154,060 $88M $76.37 $10M +167,352 +17.0%
34 DOC 0.83% 5,226,384 $84M $16.08 -$187M -8,901,289 -63.0%
35 ARE 0.77% 1,602,065 $78M $48.94 $30M +1,023,747 +177.0%
36 EGP 0.74% 422,290 $75M $178.14 $25M +124,971 +42.0%
37 DRH 0.69% 7,780,988 $70M $8.96 $10M +244,013 +3.2%
38 BNL 0.64% 3,718,684 $65M $17.37 -$26M -1,333,903 -26.4%
39 NTST 0.64% 3,653,585 $64M $17.64 $636K +120,170 +3.4%
40 AMT 0.61% 353,536 $62M $175.57 -$9M -15,970 -4.3%
41 FRT 0.60% 607,641 $61M $100.80 -$68M -663,213 -52.2%
42 SBRA 0.50% 2,654,480 $50M $18.94 +2,654,480 NEW
43 IVT 0.36% 1,287,805 $36M $28.21 $31M +1,103,911 +600.3%
44 SLG 0.30% 670,360 $31M $45.87 +670,360 NEW
45 COLD 0.29% 2,320,182 $30M $12.86 -$11M -975,600 -29.6%
46 PDM 0.28% 3,429,364 $29M $8.34 $16M +2,080,658 +154.3%
47 DEI 0.28% 2,539,450 $28M $10.99 $2M +897,630 +54.7%
48 LAMR 0.26% 212,044 $27M $126.58 -$9M -76,960 -26.6%
49 CCI 0.26% 301,350 $27M $88.87 $9M +117,400 +63.8%
50 REG 0.24% 352,034 $24M $69.03 -$1M +71 +0.0%
51 RHP 0.23% 248,030 $23M $94.62 $19M +195,440 +371.6%
52 ESRT 0.23% 3,524,489 $23M $6.52 -$4M +48,920 +1.4%
53 MAA 0.22% 159,582 $22M $138.91 -$3M -18,468 -10.4%
54 AVB 0.21% 118,290 $21M $181.31 -$1M
55 SBAC 0.18% 96,447 $19M $193.43 -$11M -57,618 -37.4%
56 LINE 0.18% 531,490 $19M $35.00 -$8M -168,060 -24.0%
57 DHC 0.15% 3,229,172 $16M $4.85 $9M +1,781,839 +123.1%
58 SHO 0.13% 1,517,366 $14M $8.94 $465K +119,290 +8.5%
59 RLJ 0.13% 1,779,010 $13M $7.45 +1,779,010 NEW
60 WY 0.11% 454,969 $11M $23.69 -$704K -8,210 -1.8%
61 VTMX 0.10% 330,340 $10M $30.49 -$285K -35,762 -9.8%
62 STAG 0.07% 184,800 $7M $36.76 $272K
63 SUI 0.06% 51,323 $6M $123.91 -$261K
64 HLT 0.06% 20,150 $6M $287.25 +20,150 NEW
65 XHR 0.05% 332,956 $5M $14.14 +332,956 NEW
66 TRNO 0.03% 56,200 $3M $58.71 $110K
67 KRC 0.03% 73,170 $3M $37.37 -$772K -9,825 -11.8%
68 PEB-PE 0.02% 127,246 $2M $19.08 -$144K
69 CBRE 0.02% 10,470 $2M $160.79 $45K +70 +0.7%
70 CDP 0.02% 57,000 $2M $27.80 -$508K -15,000 -20.8%
71 FVR 0.01% 94,290 $1M $14.76 -$1M -90,080 -48.9%
72 IRT 0.01% 79,000 $1M $17.48 $86K
73 0YY7.L 0.01% 52,000 $798K $15.34 -$849K -88,700 -63.0%
74 PEB-PF 0.01% 40,594 $773K $19.05 -$47K
75 WRE 0.01% 39,320 $684K $17.40 -$12M -734,510 -94.9%
76 EPRT —% 16,944 $503K $29.66 -$180K -5,979 -26.1%
77 NEE —% 5,250 $421K $80.28 -$69K -1,250 -19.2%
78 JLL —% 1,120 $377K $336.47 $46K +10 +0.9%
79 FCPT —% 15,430 $356K $23.06 -$198K -7,265 -32.0%
80 ZG —% 5,040 $344K $68.32 +5,040 NEW
81 APLE —% -$12M -1,024,590 -100.0% SOLD
82 NNN —% -$60M -1,420,526 -100.0% SOLD
83 LXP —% -$4M -404,405 -100.0% SOLD
84 HPP —% -$8M -2,855,185 -100.0% SOLD
85 CUBE —% -$489K -12,035 -100.0% SOLD
86 CSR —% -$860K -14,600 -100.0% SOLD

New Positions

SymbolValue% Port
SBRA $50M 0.50%
SLG $31M 0.30%
RLJ $13M 0.13%
HLT $6M 0.06%
XHR $5M 0.05%
ZG $344K —%

Sold Out Positions

SymbolValue% Port
CUBE —%
CSR —%
LXP —%
HPP —%
NNN —%
APLE —%
View SEC EDGAR Filings for CENTERSQUARE INVESTMENT MANAGEMENT LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms