Is Federal Realty Investment Trust (NYSE:FRT) going to take off soon? Hedge funds are becoming more confident. The number of long hedge fund bets moved up by 1 recently.
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Now, let’s take a look at the latest action encompassing Federal Realty Investment Trust (NYSE:FRT).
How have hedgies been trading Federal Realty Investment Trust (NYSE:FRT)?
At the end of the fourth quarter, a total of 12 of the hedge funds we track were long in this stock, a change of 9% from the third quarter. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their holdings meaningfully.
When looking at the hedgies we track, Jeffrey Furber’s AEW Capital Management had the largest position in Federal Realty Investment Trust (NYSE:FRT), worth close to $137 million, comprising 3.6% of its total 13F portfolio. The second largest stake is held by D. E. Shaw of D E Shaw, with a $78.2 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Ken Heebner’s Capital Growth Management, Jim Simons’s Renaissance Technologies and Ken Griffin’s Citadel Investment Group.
As aggregate interest increased, key money managers were leading the bulls’ herd. Capital Growth Management, managed by Ken Heebner, initiated the biggest position in Federal Realty Investment Trust (NYSE:FRT). Capital Growth Management had 44.2 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $2.7 million investment in the stock during the quarter.
What have insiders been doing with Federal Realty Investment Trust (NYSE:FRT)?
Insider purchases made by high-level executives is best served when the company in focus has seen transactions within the past half-year. Over the last 180-day time frame, Federal Realty Investment Trust (NYSE:FRT) has experienced zero unique insiders buying, and 2 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Federal Realty Investment Trust (NYSE:FRT). These stocks are Kimco Realty Corp (NYSE:KIM), DDR Corp (NYSE:DDR), Macerich Co (NYSE:MAC), Realty Income Corp (NYSE:O), and SL Green Realty Corp (NYSE:SLG). This group of stocks are in the reit – retail industry and their market caps resemble FRT’s market cap.