LDR Capital Management LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 21, 2024), LDR Capital Management LLC reported 27 stock positions worth $60.5 million. Its top holding was Healthcare Realty Trust (HR) at 8.6% of the portfolio, followed by Healthpeak Properties (DOC, 6.1%) and Kite Realty Group Trust (KRG, 5.8%). Compared with Q2 2024, it opened 1 new position, sold out of 8, added to 2 and reduced 21. The biggest buy was Vici Properties (VICI, shares +69%) and the biggest sale an exit from SL Green Realty (SLG).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001566089
Portfolio Value
$60.5M (Q3 2024)
SEC Filing
0001172661-24-004317 ↗ filed Oct 21, 2024

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $121.8M Q1 2024 Q2 2024: $82.6M Q2 2024 Q3 2024: $60.5M $60.5M Q3 2024 Q4 2024: $52.2M Q4 2024 Q1 2025: $50.5M Q1 2025 Q2 2025: $43.8M Q2 2025 Q3 2025: $36.7M Q3 2025 Q4 2025: $46.0M Q4 2025 Q1 2026: $51.2M Q1 2026 Q2 2026: $62.7M Q2 2026

Holdings 27 stocks · $60.5M
HR Healthcare Realty Trust Inc. 8.62% 287,084 $5.2M Reduce -5.0%
DOC Healthpeak Properties Inc. 6.13% 162,024 $3.7M Reduce -33.2%
KRG Kite Realty Group Trust 5.76% 131,208 $3.5M Reduce -22.8%
UMH Umh Properties Inc. filed as UMH PPTYS INC 5.43% 167,091 $3.3M Reduce -29.3%
KW Kennedy-Wilson Holdings Inc. 5.31% 290,637 $3.2M Reduce -8.6%
VICI Vici Properties Inc. filed as VICI PPTYS INC 5.27% 95,768 $3.2M Add +69.3%
STWD Starwood Property Trust Inc. 5.27% 156,299 $3.2M Reduce -11.3%
UE Urban Edge Properties 4.70% 132,788 $2.8M Reduce -40.9%
BDN Brandywine Realty Trust 4.52% 501,965 $2.7M Reduce -19.3%
BRX Brixmor Property Group Inc. 4.48% 97,314 $2.7M Reduce -26.3%
XLRE SS Real Estate Select Sector 4.22% 57,185 $2.6M Reduce -16.9%
HHH Howard Hughes Holdings Inc. 3.62% 28,289 $2.2M Add +8.8%
PSA Public Storage 3.49% 5,800 $2.1M Reduce -5.3%
VRE Veris Residential Inc. 3.40% 115,022 $2.1M Reduce -23.1%
CCI Crown Castle Inc. 3.33% 16,974 $2.0M Reduce -5.9%
EQIX Equinix Inc. 3.25% 2,217 $2.0M No change
BIPC Brookfield Infrastructure-A 3.25% 45,249 $2.0M Reduce -44.7%
AVB Avalonbay Communities Inc. 3.23% 8,679 $2.0M Reduce -0.1%
AMT American Tower Corp. 3.13% 8,138 $1.9M Reduce -0.1%
PLD Prologis Inc. 3.04% 14,568 $1.8M Reduce -0.1%
STAG Stag Industrial Inc. 2.83% 43,758 $1.7M Reduce -38.0%
ALEX Alexander & Baldwin Inc. 2.80% 88,299 $1.7M No change
IRT Independence Realty Trust Inc. 2.11% 62,270 $1.3M Reduce -17.3%
CHCT Community Healthcare Trust I 1.04% 34,720 $630K New
ELME Elme Communities 0.67% 23,043 $405K No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.64% 20,250 $385K Reduce -26.8%
INVH Invitation Homes Inc. 0.45% 7,747 $273K Reduce -83.3%
Other holdings (6): bonds, preferreds, convertibles and warrants · $29.4M (not counted above)
SecurityClassShares / PrincipalValueChange
EPR PROPERTIES (EPR 9 PERP E) CONV PFD 9% SR E 305,688$9.4MReduce -0.1%
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 294,583$7.7MReduce -0.3%
EPR PROPERTIES (EPR 5.75 PERP C) PFD C CV 5.75% 216,169$4.8MReduce -1.7%
KIMCO REALTY CORP (KIM 7.25 PERP N) DP CV CL N 7.25% 50,650$3.1MReduce -14.0%
LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) PFD CONV SER C 43,390$2.3MReduce -2.5%
BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) 5.5 CUM CV PFD B 142,865$2.1MReduce -0.1%

Total filed on the 13F, all lines: $89.8M.

Portfolio Sells Q2 2024 → Q3 2024
SLG SL Green Realty Corp. Sold out 0.00% −13.71
SBRA Sabra Health Care REIT Inc. Sold out 0.00% −8.46
INVH Invitation Homes Inc. Reduce -83.3% 0.45% −1.57
CCS Century Communities Inc. Sold out 0.00% −0.43
ALCO Alico Inc. Sold out 0.00% −0.41
COLD Americold Realty Trust Inc. Sold out 0.00% −0.38
UE Urban Edge Properties Reduce -40.9% 4.70% −0.33
BXMT Blackstone Mortgage Tru Class A Sold out 0.00% −0.27
STAG Stag Industrial Inc. Reduce -38.0% 2.83% −0.25
DRH Diamondrock Hospitality Co. Sold out 0.00% −0.14
CLDT Chatham Lodging Trust Sold out 0.00% −0.12
BIPC Brookfield Infrastructure-A Reduce -44.7% 3.25% −0.09
CTO Cto Realty Growth Inc. Reduce -26.8% 0.64% +0.05
DOC Healthpeak Properties Inc. Reduce -33.2% 6.13% +0.38
IRT Independence Realty Trust Inc. Reduce -17.3% 2.11% +0.40
VRE Veris Residential Inc. Reduce -23.1% 3.40% +0.68
BRX Brixmor Property Group Inc. Reduce -26.3% 4.48% +0.80
UMH Umh Properties Inc. Reduce -29.3% 5.43% +0.86
XLRE SS Real Estate Select Sector Reduce -16.9% 4.22% +1.02
AVB Avalonbay Communities Inc. Reduce -0.1% 3.23% +1.06
PLD Prologis Inc. Reduce -0.1% 3.04% +1.06
BDN Brandywine Realty Trust Reduce -19.3% 4.52% +1.15
KRG Kite Realty Group Trust Reduce -22.8% 5.76% +1.16
CCI Crown Castle Inc. Reduce -5.9% 3.33% +1.20
AMT American Tower Corp. Reduce -0.1% 3.13% +1.21
STWD Starwood Property Trust Inc. Reduce -11.3% 5.27% +1.23
PSA Public Storage Reduce -5.3% 3.49% +1.36
KW Kennedy-Wilson Holdings Inc. Reduce -8.6% 5.31% +1.57
HR Healthcare Realty Trust Inc. Reduce -5.0% 8.62% +2.59

Portfolio Buys Q2 2024 → Q3 2024
VICI Vici Properties Inc. Add +69.3% 5.27% +3.31
HHH Howard Hughes Holdings Inc. Add +8.8% 3.62% +1.58
CHCT Community Healthcare Trust I New 1.04% +1.04

Notes & Other Activity Q2 2024 → Q3 2024
EPR PROPERTIES (EPR 9 PERP E) CONV PFD 9% SR E Reduce -0.1% 305,688 $9.4M
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A Reduce -0.3% 294,583 $7.7M
EPR PROPERTIES (EPR 5.75 PERP C) PFD C CV 5.75% Reduce -1.7% 216,169 $4.8M
KIMCO REALTY CORP (KIM 7.25 PERP N) DP CV CL N 7.25% Reduce -14.0% 50,650 $3.1M
LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) PFD CONV SER C Reduce -2.5% 43,390 $2.3M
BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) 5.5 CUM CV PFD B Reduce -0.1% 142,865 $2.1M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 38$62.7MEQIX, DLR, CCI, SPG, SLG
Q1 2026 37$51.2MEQIX, AMT, PLD, ELS, WELL
Q4 2025 34$46.0MCCI, DLR, PLD, AMT, SUI
Q3 2025 26$36.7MVICI, EQIX, AMT, ELS, DHC
Q2 2025 21$43.8MVICI, EQIX, AMT, ELS, DHC
Q1 2025 21$50.5MAMT, REXR, EQIX, VICI, ELS
Q4 2024 27$52.2MEQIX, STWD, KRG, AMT, VICI
Q3 2024 27$60.5MHR, DOC, KRG, UMH, KW
Q2 2024 34$82.6MSLG, SBRA, HR, DOC, UE
Q1 2024 33$121.8MBXMT, SLG, SBRA, DOC, HR