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.

Is Granite Real Estate Investment Trust (GRP) A Good Stock To Buy?

Page 1 of 2

The third-quarter stock market correction has turned out to resemble the situation observed during the Asian financial crisis of 1997. The two relatively short-lived corrections occurred at a time with stable interest rates, falling commodity markets, with strong-performing technology and healthcare sectors, and struggling energy sector. Similarly, the two corrections followed long periods without a correction, which had to come sooner or later and it did. Even so, several prominent hedge fund investors publicly asserted their bearish view on the current state of the U.S. equity markets, suggesting that they significantly cut their exposure to equities during the latest quarter. Having said that, it would be worthwhile to take a look at the hedge fund sentiment on Granite Real Estate Investment Trust (NYSE:GRP) in order to identify whether reputable and successful top money managers continue to believe in its potential.

Is Granite Real Estate Investment Trust undervalued? Prominent investors are becoming more confident. The number of long hedge fund bets went up by 2 recently. At the end of this article we will also compare GRP to other stocks, including FTI Consulting, Inc. (NYSE:FCN), Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR), and Herman Miller, Inc. (NASDAQ:MLHR) to get a better sense of its popularity.

In the eyes of most traders, hedge funds are assumed to be unimportant, old investment vehicles of years past. While there are over 8000 funds in operation today, Our researchers choose to focus on the crème de la crème of this group, approximately 700 funds. These investment experts handle most of all hedge funds’ total asset base, and by observing their finest picks, Insider Monkey has discovered many investment strategies that have historically defeated the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points per year for a decade in their back tests.

With all of this in mind, we’re going to take a look at the new action surrounding Granite Real Estate Investment Trust (NYSE:GRP).

How are hedge funds trading Granite Real Estate Investment Trust (NYSE:GRP)?

At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey were long this stock, a surge of 40% from the second quarter. With hedgies’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Huber Capital Management, managed by Joe Huber, holds the biggest position in Granite Real Estate Investment Trust (NYSE:GRP). Huber Capital Management has a $82.2 million stake in the company, comprising 2.9% of its 13F portfolio. The second most bullish fund manager is D E Shaw, led by D. E. Shaw, holding a $4 million position; less than 0.1% of its 13F portfolio is allocated to the company. Some other peers that hold long positions comprise Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Jim Simons’s Renaissance Technologies and Cliff Asness’s AQR Capital Management.

Page 1 of 2

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...
X

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!