Should You Add Gramercy Property Trust (GPT) to Your Portfolio?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that got rid of their entire stakes in the stock during the third quarter. It’s worth mentioning that Ken Heebner’s Capital Growth Management got rid of the largest investment of all the investors monitored by Insider Monkey, comprising an estimated $48.7 million in stock. Israel Englander’s fund, Millennium Management, also dropped its stock, about $36.3 million worth.

Let’s check out hedge fund activity in other stocks similar to Gramercy Property Trust (NYSE:GPT). These stocks are Hill-Rom Holdings, Inc. (NYSE:HRC), Nuance Communications Inc. (NASDAQ:NUAN), DCP Midstream Partners, LP (NYSE:DPM), and Urban Outfitters, Inc. (NASDAQ:URBN). This group of stocks’ market values are similar to GPT’s market value.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $342 million, versus $192 million in GPT’s case. Hill-Rom Holdings, Inc. (NYSE:HRC) is the most popular stock in this table. On the other hand DCP Midstream Partners, LP (NYSE:DPM) is the least popular one with only eight bullish hedge fund positions. Gramercy Property Trust (NYSE:GPT) 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 Hill-Rom Holdings, Inc. (NYSE:HRC) might be a better candidate to consider taking a long position in.

Disclosure: none