Federal Realty Investment Trust (FRT): Are Hedge Funds Right About This Stock?

As one would reasonably expect, key hedge funds have jumped into Federal Realty Investment Trust (NYSE:FRT) headfirst. Millennium Management assembled the most outsized position in Federal Realty Investment Trust (NYSE:FRT). John Overdeck and David Siegel’s Two Sigma Advisors also made a $12.5 million investment in the stock during the quarter. The other funds with brand new FRT positions are Dmitry Balyasny’s Balyasny Asset Management, David Harding’s Winton Capital Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt.

Let’s go over hedge fund activity in other stocks similar to Federal Realty Investment Trust (NYSE:FRT). These stocks are Xilinx, Inc. (NASDAQ:XLNX), D.R. Horton, Inc. (NYSE:DHI), Extra Space Storage, Inc. (NYSE:EXR), and CGI Group Inc. (USA) (NYSE:GIB). This group of stocks’ market values match FRT’s market value.

As you can see these stocks had an average of 30 funds with bullish positions and the average amount invested in these stocks was $625 million. That figure was $262 million in FRT’s case. Xilinx, Inc. (NASDAQ:XLNX) is the most popular stock in this table. On the other hand CGI Group Inc. (USA) (NYSE:GIB) is the least popular one with only 16 bullish hedge fund positions. Federal Realty Investment Trust (NYSE:FRT) 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 Xilinx, Inc. (NASDAQ:XLNX) might be a better candidate to consider taking a long position in.