Is Northstar Realty Finance Corp. (NYSE:NRF) a good investment?
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Keeping this in mind, let’s discuss the recent info about Northstar Realty Finance Corp. (NYSE:NRF).
How have hedgies been trading Northstar Realty Finance Corp. (NYSE:NRF)?
At Q2’s end, a total of 23 of the hedge funds we track were long in this stock, a change of -8% from the previous quarter. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were increasing their stakes substantially.
Out of the hedge funds we follow, Bain Capital’s Brookside Capital had the most valuable position in Northstar Realty Finance Corp. (NYSE:NRF), worth close to $94.8 million, comprising 2.2% of its total 13F portfolio. Coming in second is York Capital Management, managed by James Dinan, which held a $60.3 million position; 1.3% of its 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism include Anand Parekh’s Alyeska Investment Group, Robert Pohly’s Samlyn Capital and Israel Englander’s Millennium Management.
As Northstar Realty Finance Corp. (NYSE:NRF) has faced a fall in interest from upper-tier hedge fund managers, it’s safe to say that there was a specific group of hedge funds that slashed their full holdings heading into Q2. It’s worth mentioning that J. Alan Reid, Jr.’s Forward Management cut the largest position of the “upper crust” of funds we key on, totaling close to $1 million in stock, and Bill Miller of Legg Mason Capital Management was right behind this move, as the fund dumped about $0.9 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 2 funds heading into Q2.
How have insiders been trading Northstar Realty Finance Corp. (NYSE:NRF)?
Bullish insider trading is particularly usable when the company in question has seen transactions within the past six months. Over the last six-month time period, Northstar Realty Finance Corp. (NYSE:NRF) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Northstar Realty Finance Corp. (NYSE:NRF). These stocks are Equity One, Inc. (NYSE:EQY), EPR Properties (NYSE:EPR), Glimcher Realty Trust (NYSE:GRT), Alexander’s, Inc. (NYSE:ALX), and Washington Real Estate Investment Trust (NYSE:WRE). This group of stocks belong to the reit – retail industry and their market caps match NRF’s market cap.