Third Avenue Real Estate Value Fund Institutional Class (TAREX)

Fund Assets	303.87M
Expense Ratio	1.17%
Min. Investment	$100,000
Turnover	16.00%
Dividend (ttm)	1.40
Dividend Yield	5.87%
Dividend Growth	-8.20%
Payout Frequency	Annual
Ex-Dividend Date	Dec 10, 2025

Previous Close	24.09
YTD Return	-2.92%
1-Year Return	-3.62%
5-Year Return	20.50%
52-Week Low	21.67
52-Week High	27.08
Beta (5Y)	1.03
Holdings	40
Inception Date	Sep 17, 1998

About TAREX

The Third Avenue Real Estate Value Fund Institutional Class is a mutual fund specializing in value-oriented real estate investments. Its central purpose is to seek long-term capital appreciation by investing primarily in the equity securities of well-capitalized companies within the global real estate sector. The fund distinguishes itself through a contrarian, value-based investment philosophy, led by an experienced management team with a consistent approach through multiple market cycles. Its portfolio spans a mix of real estate operating companies, real estate investment trusts, and related entities, with a notable proportion of assets concentrated in its top holdings. While the fund is categorized under global real estate, it strategically includes both U.S. and non-U.S. securities, and incorporates financially material ESG factors into its analysis to mitigate risk and optimize shareholder value. With a track record dating back to 1998, the Third Avenue Real Estate Value Fund Institutional Class serves as a differentiated vehicle for investors seeking broad exposure to the real estate sector through a disciplined, value-driven framework.

• Fund Family: Third Avenue
• Category: Global Real Estate
• Performance Rating: Above Average
• Risk Rating: High
• Stock Exchange: NASDAQ
• Ticker Symbol: TAREX
• Share Class: Institutional Class
• Index: FTSE EPRA Nareit Developed TR USD

Performance

TAREX had a total return of -3.62% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.30%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
TARZX	Z Class	1.07%
TVRVX	Investor Class	1.42%

Top 10 Holdings

46.19% of assets

Name	Symbol	Weight
CBRE Group, Inc.	CBRE	5.68%
Brookfield Corporation	BN	5.21%
U-Haul Holding Company	UHAL.B	5.08%
Federal National Mortgage Association Fannie Mae Fixed/Floating Rate Non Cu	FNMA.V8.25 PERP S	4.57%
Federal Home Loan Mortgage Corp FXDFR PRF PERPETUAL USD 25	FMCC.V8.375 PERP Z	4.48%
Five Point Holdings, LLC	FPH	4.46%
Prologis, Inc.	PLD	4.40%
BNY Dreyfus Treasury Secs Csh Mgmt Inst	DIRXX	4.15%
Lennar Corporation	LEN.B	4.11%
PulteGroup, Inc.	PHM	4.04%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 10, 2025	$1.40071	Dec 11, 2025
Dec 11, 2024	$1.52588	Dec 12, 2024
Dec 13, 2023	$1.14613	Dec 14, 2023
Dec 14, 2022	$1.62768	Dec 15, 2022
Dec 15, 2021	$2.47654	Dec 16, 2021
Dec 10, 2020	$0.22824	Dec 11, 2020

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Aug 27, 2026

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