5 Stocks to Buy According to Mark T. Gallogly’s Centerbridge Partners

4. INDUS Realty Trust, Inc. (NASDAQ:INDT)

Centerbridge Partners’ Stake Value: $89,778,000
Percentage of Centerbridge Partners’ 13F Portfolio: 7.93%
Number of Hedge Fund Holders: 9

INDUS Realty Trust, Inc. (NASDAQ:INDT) is a real estate business that develops, acquires, manages, and leases high-end industrial and logistical buildings. INDUS owns and operates 41 buildings totalling 4.6 million square feet, dispersed across more than 3,400 acres of undeveloped land in Connecticut, Pennsylvania, North Carolina, and Florida.

According to Insider Monkey’s data, INDUS Realty Trust, Inc. (NASDAQ:INDT) was part of 9 hedge fund portfolios at the end of Q2 2022, compared to 10 in the prior quarter. However, Centerbridge Partners elevated its stake in INDUS Realty Trust, Inc. (NASDAQ:INDT) by 12% in the second quarter of 2022. Mark Gallogly’s Centerbridge Partners owns 1.51 million shares of the company, worth over $89.78 million.

On October 17, BTIG analyst Thomas Catherwood retained a ‘Buy’ rating on the shares of INDUS Realty Trust, Inc. (NASDAQ:INDT) while trimming his price objective from $91 to $72. Despite strong fundamentals and a promising near-term outlook, the Industrial sector has lagged behind the entire industry after seven years of outperformance. On a multiple basis, the sector has not traded at these levels since Q1 of 2016, the analyst said in a research note to investors.

Here is what Clark Street Value has to say about INDUS Realty Trust, Inc. (NASDAQ:INDT) in its Q4 2021 investor letter:

“INDUS Realty Trust (INDT) will similarly just be in my tuck it away and forget about it pile for now, it is a logistics/warehouse REIT that has recruited much of the old Gramercy Property Trust (GPT) team, with the former CFO, Jon Clark, taking over at year end to round out things out. The tailwinds are pretty clear, and with a relatively small asset base and experienced team, they can be “sharp shooters” as they describe it, pick and choose smaller deals the likes of Blackstone can’t be bothered with to assemble a portfolio.”