Green Brick Partners (GRBK) Posted a 114% Gain in 2023

Greenlight Capital, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. In 2023, the Greenlight Capital funds returned 22.1% net of fees and expenses, compared to 26.3% for the S&P 500 index. The Partnerships have returned 2,902.1% cumulatively or 13.1% annualized since Greenlight Capital’s inception in May 1996, both net of fees and expenditures. The index has returned 1,117.1% or 9.5% annualized, over the same period. 2023 was a great year for the Partnerships. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Greenlight Capital featured stocks such as Green Brick Partners, Inc. (NYSE:GRBK) in the fourth quarter 2023 investor letter. Green Brick Partners, Inc. (NYSE:GRBK) is a homebuilding and land development company. On January 23, 2024, Green Brick Partners, Inc. (NYSE:GRBK) stock closed at $50.01 per share. One-month return of Green Brick Partners, Inc. (NYSE:GRBK) was -5.66%, and its shares gained 71.03% of their value over the last 52 weeks. Green Brick Partners, Inc. (NYSE:GRBK) has a market capitalization of $2.269 billion.

Greenlight Capital stated the following regarding Green Brick Partners, Inc. (NYSE:GRBK) in its fourth quarter 2023 investor letter:

“In 2023, Green Brick Partners, Inc. (NYSE:GRBK), which had been our biggest loser in 2022, turned into our biggest winner, posting a 114% gain. It began the year trading at under 8x 2023 EPS estimates, which almost doubled over the course of the year. The shares begin 2024 trading at about 7x 2024 estimates. While it is unlikely that the company will again double the published estimates, GRBK appears to us to be poised for another strong year.”

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Green Brick Partners, Inc. (NYSE:GRBK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Green Brick Partners, Inc. (NYSE:GRBK) at the end of third quarter which was 18 in the previous quarter.

We discussed Green Brick Partners, Inc. (NYSE:GRBK) in another article and shared the list of most famous hedge fund managers and their top stock picks. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.