Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Parag Vora’s HG Vora Capital is Bullish on REITs

Parag Vora‘s HG Vora Capital Management is bullish on Ashford Hospitality Trust, Inc. (NYSE:AHT) and on Ashford Inc. (NYSEMKT:AINC). In two new filings with the Securities and Exchange Commission, HG Vora reported raising its position in Ashford Hospitality to 4.50 million shares, from 3.50 million shares held earlier and initiating a position in Ashford Inc., which amasses 160,000 shares of the company. In this way, the fund currently owns a passive stake that amasses 5% of Ashford Hospitality Trust’s common stock and an activist stake in Ashford, which represents 8.1% of the company’s common stock.

Parag Vora - HG Vora Capital

Ashford Inc. (NYSEMKT:AINC) is a company that went public on November 10 being spun-off from Ashford Hospitality Trust, Inc. (NYSE:AHT). The stock gained the attention of investors as its price went up by 150% since the IPO. Following the spin-off the shareholders received one share of Ashford for each 87 shares of Ashford Hospitality Trust. Ashford is an asset management company that is focused on managing real estate, hospitality and securities platforms. Ashford Hospitality Trust is a real estate investment trust that is investing in the hospitality industry.

HG Vora is a new fund that has filed its first 13F filing for the last quarter of 2013. It has been holding shares of Ashford Hospitality Trust, Inc. (NYSE:AHT) since the first quarter, its initial stake amassing around 1.35 million shares of the company. During the first quarter, the stake has been increased by more than a threefold, but during the second and third quarters, the position has been slightly decreased. Meanwhile, the stock of Ashford Hospitality appreciated by around 25% year-to-date.

Moreover, while HG Vora is the largest shareholder of Ashford Hospitality Trust, Inc. (NYSE:AHT) among the funds that we track, other funds also have a bullish sentiment on the REIT. Cliff Asness’ AQR Capital Management raised its position by 44% during the third quarter to 2.71 million shares. Jim Simons’ Renaissance Technologies raised its exposure by 46% during the same period to 2.36 million shares.

HG Vora is an activist fund with an equity portfolio of $880 million. The fund has recently raised its position and went activist on Town Sports International Holdings, Inc. (NASDAQ:CLUB), of which it now owns 3.88 million shares, versus 3.30 million shares. The largest position is represented by American Realty Capital Properties Inc (NASDAQ:ARCP), of which the fund owns 12.35 million shares, followed by Pinnacle Entertainment, Inc (NYSE:PNK) with 7.7 million shares.

Overall, HG Vora is betting on Real Estate Investment Trust since these stocks provide stable returns in forms of dividends. We have seen investors becoming more active around these stocks. Yesterday, Ken Griffin‘s Citadel Investment Group reported raising its position in Silver Bay Realty Trust Corp (NYSE:SBY) to 1.88 million shares, from 1.71 million shares. In addition David S. Winter and David J. Millstone‘s 40 North Management increased stake in Columbia Property Trust Inc (NYSE:CXP) to 8.14 million shares, from 4.01 million shares held earlier.

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!