Hersha Hospitality Trust (HT): Are Hedge Funds Right About This Stock?

As one would reasonably expect, some big names were breaking ground themselves. Millennium Management, led by Israel Englander initiated the largest position in Hersha Hospitality Trust (NYSE:HT) which had $2.6 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $0.8 million investment in the stock during the quarter. The only other fund with a new position in the stock is Andrew Weiss’ Weiss Asset Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Hersha Hospitality Trust (NYSE:HT) but similarly valued. These stocks are GasLog Partners LP (NYSE:GLOP), istar Inc (NYSE:STAR), Greenlight Capital Re, Ltd. (NASDAQ:GLRE), and Sandstorm Gold Ltd. (NYSE:SAND). This group of stocks’ market caps match HT’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $66 million. That figure was $41 million in HT’s case. istar Inc (NYSE:STAR) is the most popular stock in this table. On the other hand GasLog Partners LP (NYSE:GLOP) is the least popular one with only 3 bullish hedge fund positions. Hersha Hospitality Trust (NYSE:HT) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard STAR might be a better candidate to consider taking a long position in.

Disclosure: None