Ramco-Gershenson Properties Trust (NYSE:RPT) was in 15 hedge funds’ portfolio at the end of the first quarter of 2013. RPT investors should be aware of an increase in activity from the world’s largest hedge funds in recent months. There were 10 hedge funds in our database with RPT positions at the end of the previous quarter.
Equally as important, optimistic insider trading activity is another way to break down the marketplace. Obviously, there are a variety of motivations for an upper level exec to cut shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the impressive potential of this method if piggybackers understand where to look (learn more here).
Consequently, we’re going to take a gander at the key action surrounding Ramco-Gershenson Properties Trust (NYSE:RPT).
Hedge fund activity in Ramco-Gershenson Properties Trust (NYSE:RPT)
At Q1’s end, a total of 15 of the hedge funds we track were long in this stock, a change of 50% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their stakes significantly.
When looking at the hedgies we track, AQR Capital Management, managed by Cliff Asness, holds the largest position in Ramco-Gershenson Properties Trust (NYSE:RPT). AQR Capital Management has a $18.9 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Mariner Investment Group, managed by William Michaelcheck, which held a $16.1 million position; 18.9% of its 13F portfolio is allocated to the stock. Some other hedgies that are bullish include Jeffrey Furber’s AEW Capital Management, J. Alan Reid, Jr.’s Forward Management and Jim Simons’s Renaissance Technologies.
Consequently, some big names have jumped into Ramco-Gershenson Properties Trust (NYSE:RPT) headfirst. Mariner Investment Group, managed by William Michaelcheck, initiated the most outsized position in Ramco-Gershenson Properties Trust (NYSE:RPT). Mariner Investment Group had 16.1 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also initiated a $1.7 million position during the quarter. The following funds were also among the new RPT investors: Israel Englander’s Millennium Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Mike Vranos’s Ellington.
How have insiders been trading Ramco-Gershenson Properties Trust (NYSE:RPT)?
Insider buying is most useful when the company we’re looking at has seen transactions within the past half-year. Over the last half-year time period, Ramco-Gershenson Properties Trust (NYSE:RPT) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Ramco-Gershenson Properties Trust (NYSE:RPT). These stocks are Retail Opportunity Investments Corp (NASDAQ:ROIC), Hersha Hospitality Trust (NYSE:HT), Saul Centers Inc (NYSE:BFS), Inland Real Estate Corporation (NYSE:IRC), and Pennsylvania R.E.I.T. (NYSE:PEI). All of these stocks are in the reit – retail industry and their market caps are closest to RPT’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Retail Opportunity Investments Corp (NASDAQ:ROIC) | 12 | 1 | 0 |
| Hersha Hospitality Trust (NYSE:HT) | 13 | 1 | 6 |
| Saul Centers Inc (NYSE:BFS) | 5 | 1 | 7 |
| Inland Real Estate Corporation (NYSE:IRC) | 5 | 2 | 0 |
| Pennsylvania R.E.I.T. (NYSE:PEI) | 11 | 0 | 3 |
With the returns exhibited by our strategies, everyday investors should always monitor hedge fund and insider trading activity, and Ramco-Gershenson Properties Trust (NYSE:RPT) is an important part of this process.
