How Bluerock Residential Growth REIT Inc (BRG) Stacks Up Against Its Peers?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Israel Englander’s Millennium Management said goodbye to the biggest stake of all the hedgies tracked by Insider Monkey, comprising close to $0.6 million in stock. David Dreman’s fund, Dreman Value Management, also cut its stock, about $0.3 million worth.

Let’s also examine hedge fund activity in other stocks similar to Bluerock Residential Growth REIT Inc (NYSEMKT:BRG). We will take a look at Bassett Furniture Industries Inc. (NASDAQ:BSET), Merus NV (NASDAQ:MRUS), Great Ajax Corp (NYSE:AJX), and Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). All of these stocks’ market caps match BRG’s market cap.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $29 million in BRG’s case. Bassett Furniture Industries Inc. (NASDAQ:BSET) is the most popular stock in this table. On the other hand Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) is the least popular one with only 3 bullish hedge fund positions. Bluerock Residential Growth REIT Inc (NYSEMKT:BRG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BSET might be a better candidate to consider taking a long position in.

Disclosure: None