# EDGAR Filing Document

**Accession Number:** 0001046404
**File Stem:** 0001099263-26-006612
**Filing Date:** 2026-5
**Character Count:** 18615
**Document Hash:** 371d6d639d00cd275c60af1d7d940716
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-006612.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001099263-26-006612

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Real Estate Fund, Inc.
- **CENTRAL INDEX KEY:** 0001046404

**ORGANIZATION NAME:**
- **EIN:** 522070587
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08371
- **FILM NUMBER:** 261035265

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRICE T ROWE REAL ESTATE FUND INC
- **DATE OF NAME CHANGE:** 19970919

## Series and Classes Contracts Data

### T. Rowe Price Real Estate Fund, Inc. (Series ID: S000002107)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000005479 | T. Rowe Price Real Estate Fund, Inc.         | TRREX           |
| C000005480 | T. Rowe Price Real Estate Fund-Advisor Class | PAREX           |
| C000166334 | T. Rowe Price Real Estate Fund-I Class       | TIRRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** T. ROWE PRICE REAL ESTATE FUND, INC.

- **b. Investment Company Act file number:** 811-08371

- **c. CIK number of Registrant:** 0001046404

- **d. LEI of Registrant:** 549300G7HUZEF270Q496

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** T. Rowe Price Real Estate Fund, Inc.

- **b. EDGAR series identifier (if any):** S000002107

- **c. LEI of Series:** 549300F7PG4NLAXPXR88

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $626437310.48

**Total Liabilities:** $4629809.29

**Net Assets:** $621807501.19

**Assets Attributable to Miscellaneous Securities:** $1444730.01

**Cash Not Reported:** $16896.01

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005479 | 2.24%                | 6.57%                | -5.91%               |
| Class ID C000005480 | 2.14%                | 6.63%                | -5.97%               |
| Class ID C000166334 | 2.24%                | 6.65%                | -5.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2674538.52              | $10812524.17                               |
| Month 2  | $4630024.63              | $37033766.71                               |
| Month 3  | $2565418.30              | $-44455638.39                              |

### Schedule of Portfolio Investments

| Name                                  | Title                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ACADIA REALTY TRUST                   | ACADIA REALTY TRUST                    | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |    616075 | NS      | $11779354.00  | 1.89%             |  |  |  | No            |                  1 | On Loan: —       |
| ALEXANDRIA REAL ESTATE EQUIT          | ALEXANDRIA REAL ESTATE EQUITIES INC    | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |    100835 | NS      | $4680760.70   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT CL A            | AMERICAN HOMES 4 RENT                  | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    396493 | NS      | $11070084.56  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP                   | AMERICAN TOWER CORP                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    254539 | NS      | $43928340.62  | 7.06%             |  |  |  | No            |                  1 | On Loan: No      |
| APARTMENT INVT & MGMT CO -A           | APARTMENT INVESTMENT AND MANAGEMENT CO | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |    469931 | NS      | $1912619.17   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE HOSPITALITY REIT INC            | APPLE HOSPITALITY REIT INC             | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    461188 | NS      | $5308273.88   | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |
| AVALONBAY COMMUNITIES INC             | AVALONBAY COMMUNITIES INC              | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |    103480 | NS      | $16903458.00  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROPERTY TRUST                 | CAMDEN PROPERTY TRUST                  | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     68140 | NS      | $6654552.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC - A                    | CBRE GROUP INC                         | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     27416 | NS      | $3713771.36   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC                      | CROWN CASTLE INC                       | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |    233264 | NS      | $18966695.84  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CUBESMART                             | CUBESMART                              | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    285952 | NS      | $10480140.80  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CURBLINE PROPERTIES CORP              | CURBLINE PROPERTIES CORP               | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |     56019 | NS      | $1444730.01   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC              | DIGITAL REALTY TRUST INC               | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     26500 | NS      | $4775565.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| DOUGLAS EMMETT INC                    | DOUGLAS EMMETT INC                     | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    537573 | NS      | $5063937.66   | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| EASTGROUP PROPERTIES INC              | EASTGROUP PROPERTIES INC               | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     95349 | NS      | $17648146.41  | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX INC                           | EQUINIX INC                            | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     69861 | NS      | $68480546.64  | 11.01%            |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES           | EQUITY LIFESTYLE PROPERTIES INC        | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    288431 | NS      | $18003863.02  | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL                    | EQUITY RESIDENTIAL                     | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    259199 | NS      | $15331620.85  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSEX PROPERTY TRUST INC              | ESSEX PROPERTY TRUST INC               | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     94958 | NS      | $22979836.00  | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL REALTY INVS TRUST             | FEDERAL REALTY INVESTMENT TRUST        | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     66988 | NS      | $7114795.48   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHCARE REALTY TRUST INC           | HEALTHCARE REALTY TRUST INC            | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    182783 | NS      | $3105483.17   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC         | HILTON WORLDWIDE HOLDINGS INC          | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     12922 | NS      | $3929321.76   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| KILROY REALTY CORP                    | KILROY REALTY CORP                     | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |    140553 | NS      | $3965000.13   | 0.64%             |  |  |  | No            |                  1 | On Loan: —       |
| KIMCO REALTY CORP                     | KIMCO REALTY CORP                      | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     44266 | NS      | $994657.02    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| LINEAGE INC                           | LINEAGE INC                            | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77802 | NS      | $2548793.52   | 0.41%             |  |  |  | No            |                  1 | On Loan: —       |
| PEBBLEBROOK HOTEL TRUST               | PEBBLEBROOK HOTEL TRUST                | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |    342262 | NS      | $4322769.06   | 0.70%             |  |  |  | No            |                  1 | On Loan: —       |
| PROLOGIS INC                          | PROLOGIS INC                           | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    364053 | NS      | $48120525.54  | 7.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                        | PUBLIC STORAGE                         | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |    115167 | NS      | $31196436.96  | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYONIER INC                          | RAYONIER INC                           | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    344786 | NS      | $7109487.32   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORP                  | REGENCY CENTERS CORP                   | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |    315875 | NS      | $23899102.50  | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| REXFORD INDUSTRIAL REALTY IN          | REXFORD INDUSTRIAL REALTY INC          | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    583177 | NS      | $19087383.21  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP INC              | SIMON PROPERTY GROUP INC               | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    137163 | NS      | $25585014.39  | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SL GREEN REALTY CORP                  | SL GREEN REALTY CORP                   | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     29700 | NS      | $1097118.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| SMARTSTOP SELF STORAGE REIT           | SMARTSTOP SELF STORAGE REIT INC        | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |    236297 | NS      | $7155073.16   | 1.15%             |  |  |  | No            |                  1 | On Loan: —       |
| SUN COMMUNITIES INC                   | SUN COMMUNITIES INC                    | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |    119600 | NS      | $15064816.00  | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund  | CUSIP: 76105Y109<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |   9425782 | NS      | $9425782.25   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRENO REALTY CORP                   | TERRENO REALTY CORP                    | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    264847 | NS      | $16266902.74  | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| GRS - SECURITY LENDING COLLATERAL     | TREASURY RESERVE FUND - Collateral     | CUSIP: 000000000<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | STIV             | RF                | US        |   3938292 | NS      | $3938291.75   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS INC                            | VENTAS INC                             | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    317739 | NS      | $25984695.42  | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC                   | VICI PROPERTIES INC                    | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    117400 | NS      | $3207368.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST                  | VORNADO REALTY TRUST                   | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155200 | NS      | $4033648.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER INC                         | WELLTOWER INC                          | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    337288 | NS      | $66685210.48  | 10.72%            |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER CO                       | WEYERHAEUSER CO                        | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     35620 | NS      | $870196.60    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-05

**Name of Applicant:** T. ROWE PRICE REAL ESTATE FUND, INC.

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President