Chilton REIT Approach
Using fundamental analysis to optimize risk adjusted returns
Chilton offers four different portfolios depending on client needs:
flagship reit strategy
25-35 publicly traded REITs (common equity only) targeting growth and income
High conviction REIT Strategy
8-14 publicly traded REITs (common equity only) with a goal of high growth
REIT Income strategy
Mix of 10-20 REIT positions (common and preferred equity) with a goal of secure income and steady growth
global real estate strategy
Combination of Flagship REIT Strategy and an international real estate exchange traded fund (or ETF)
Chilton has a disciplined fundamental approach to stock selection:
Idea Generation
Portfolio managers approve analyst proposal or assign due diligence
Fundamental Research
● SEC Filings
● Third party / Wall Street research
● Property tours
● Meetings with management Macro-and micro-economic data
● Conversations with local brokers
Outputs of Research
● Proprietary financial model
● Investment thesis
● Presentation to the PMs
Implementation
● Enters coverage universe with approval of buy/sell prices
● PMs add when cash is generated from a sell or incoming dividends
● Informed by risk parameters
Oversight
● Weekly REIT team meetings
● Monthly review of parameters
● Quarterly formal risk committee meetings
● Bloomberg factor risk models
Diversification of the Flagship Chilton REIT Strategy (as of 9/30/2023)
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Sector Diversification
REIT GEographic Distribution
by NCREIF Region Composite Portfolio
