Healthcare Realty Trust Inc (HR): Are Hedge Funds Right About This Stock?

Seeing as Healthcare Realty Trust Inc (NYSE:HR) has faced falling interest from the entirety of the hedge funds we track, it’s easy to see that there exists a select few hedgies that elected to cut their full holdings last quarter. At the top of the heap, Paul Tudor Jones’s Tudor Investment Corp sold off the biggest position of all the hedgies monitored by Insider Monkey, comprising close to $9.3 million in stock. Anand Parekh’s fund, Alyeska Investment Group, also dumped its stock, about $8.7 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to Healthcare Realty Trust Inc (NYSE:HR). We will take a look at IDACORP Inc (NYSE:IDA), Western Alliance Bancorporation (NYSE:WAL), RSP Permian Inc (NYSE:RSPP), and Bright Horizons Family Solutions Inc (NYSE:BFAM). This group of stocks’ market valuations resemble HR’s market valuation.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $180 million. That figure was $103 million in HR’s case. RSP Permian Inc (NYSE:RSPP) is the most popular stock in this table. On the other hand IDACORP Inc (NYSE:IDA) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Healthcare Realty Trust Inc (NYSE:HR) is even less popular than IDA. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None