How Easterly Government Properties Inc (DEA) Stacks Up Against Its Peers

Since Easterly Government Properties Inc (NYSE:DEA) has weathered bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of hedge funds that slashed their entire stakes last quarter. Intriguingly, Renaissance Technologies, one of the largest hedge funds in the world, dumped the biggest stake of the 700 funds tracked by Insider Monkey, valued at an estimated $2.2 million in stock. Israel Englander’s Millennium Management also dumped its stock, about $0.9 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Easterly Government Properties Inc (NYSE:DEA) but similarly valued. We will take a look at Enviva Partners LP (NYSE:EVA), The Gorman-Rupp Company (NYSEAMEX:GRC), Integer Holdings Corporation (NYSE:ITGR), and Blackstone / GSO Strategic Credit Fund (NYSE:BGB). This group of stocks’ market caps are similar to DEA’s market cap.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $44 million. That figure was $52 million in DEA’s case. Integer Holdings Corporation (NYSE:ITGR) is the most popular stock in this table. On the other hand Enviva Partners LP (NYSE:EVA) is the least popular one with only 2 bullish hedge fund positions. Easterly Government Properties Inc (NYSE:DEA) 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 ITGR might be a better candidate to consider taking a long position in.

Disclosure: None