Here’s What Smart Money Thinks of Spirit Realty Capital, Inc (New) (SRC)

Judging by the fact that Spirit Realty Capital, Inc (New) (NYSE:SRC) has gone through falling interest from the entirety of the hedge funds we track, we can see that there lies a certain “tier” of fund managers that slashed their positions entirely by the end of the third quarter. It’s worth mentioning that John Khoury’s Long Pond Capital cut the largest investment of the 700 funds followed by Insider Monkey, totaling an estimated $13 million in stock. Anand Parekh’s fund, Alyeska Investment Group, also dumped its stock worthy about $9.6 million.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Spirit Realty Capital, Inc (New) (NYSE:SRC) but similarly valued. We will take a look at Companhia de Saneamento Basico (ADR) (NYSE:SBS), Trimble Navigation Limited (NASDAQ:TRMB), Kilroy Realty Corp (NYSE:KRC), and iShares MSCI ACWI Index Fund (NASDAQ:ACWI). All of these stocks’ market caps match SRC’s market cap.

As you can see these stocks had an average of 14 investors from our database with bullish positions and the average amount invested in these stocks was $280 million. That figure was $340 million in SRC’s case. Trimble Navigation Limited (NASDAQ:TRMB) is the most popular stock in this table. On the other hand iShares MSCI ACWI Index Fund (NASDAQ:ACWI) is the least popular one with only nine investors holding long positions. Spirit Realty Capital, Inc (New) (NYSE:SRC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Trimble Navigation Limited (NASDAQ:TRMB) might be a better candidate to consider taking a long position in.

Disclosure: none