In this article, we’re going to use hedge fund sentiment as a tool to determine if Healthcare Realty Trust Inc (NYSE:MR) is a good investment right now. We like to analyze the sentiment of hedge funds before doing days of intensive research. We do this because hedge funds and other elite investors have numerous Ivy League graduates, seasoned network consultants, and supply chain tipsters to work or advise for them. There is no shortage of news of failed hedge fund investments, and the fact is that hedge fund picks aren’t beating the market 100% of the time, but their consensus picks have done very well in the past as well have outperformed the market after adjusting to the risk.
Is HR Stock a Buy? Healthcare Realty Trust Inc (NYSE:MR) was in 23 hedge fund portfolios at the end of the fourth quarter of 2020. The all-time high for this statistic was previously 22. This means the bullish number of hedge fund positions in this stock is currently at its all-time high. HR investors should watch out for an increasing craze for smart money lately. At the end of September, there were 18 hedge funds in our database with workforce numbers. Our calculations have also shown that HR is not one of them 30 Most Popular Stocks Among Hedge Funds (Click here for the Q4 ranking).
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Clint Carlson of Carlson Capital
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Do hedge funds think HR is a good stock to buy now?
At the end of December, a total of 23 hedge funds tracked by Insider Monkey were bullish on this stock, up 28% from the previous quarter. Below you can read about the change in hedge fund sentiment towards HR over the past 22 quarters. So let’s examine which hedge funds were among the top owners of the stock and which hedge funds made big moves.
The largest stake in Healthcare Realty Trust Inc. (NYSE: HR) was held by GLG Partners, who held shares valued at $ 50.5 million at the end of December. It was followed by Waterfront Capital Partners with a position of $ 29.6 million. Other bullish investors in the company included Carlson Capital, D E Shaw and Balyasny Asset Management. In relation to the portfolio weights assigned to each position Waterfront Capital Partners The largest weight was assigned to Healthcare Realty Trust Inc (NYSE: HR), around 2.9% of its 13F portfolio. Hill Winds capital is also relatively very bullish on the stock, referring to 2.51 percent of its 13F stock portfolio for HR.
As industry interest rose, certain money managers set out on their own. GLG Partners, managed by Noam Gottesman, has assembled the most valuable position in Healthcare Realty Trust Inc. (NYSE: HR). GLG Partners had invested $ 50.5 million in the company at the end of the quarter. Daniel Johnson’s Gillson Capital During the quarter, the company invested $ 5.5 million in the stock. The other funds with new positions in the stock are Schönfeld Strategic Advisors from Ryan Tolkin (CIO), Athanor Capital from Parvinder Thiara and Greg Eisner Engineers Gate Manager.
Let’s look at hedge fund activity in other stocks – not necessarily in the same industry as Healthcare Realty Trust Inc (NYSE: HR), but rated similarly. We’re going to take a look at Blackstone Mortgage Trust Inc (NYSE:BXMT), Arvinas, Inc. (NASDAQ:ARVN), Rayonier Inc. (NYSE:RYN), Selective Insurance Group, Inc. (NASDAQ:SIGI), Terreno Realty Corporation (NYSE:TRNO), UniFirst Corp (NYSE:UNF) and Vicor Corp (NASDAQ:VICR). The market valuations of this group of stocks come closest to the market valuation of HR.
[table] Ticker, number of HRs with positions, total value of HR positions (x1000), change in HR position BXMT, 17.141563, -7 ARVN, 34.810897.8 RYN, 16.384072, -1 SIGI, 15.57325, -6 TRNO, 9.22576 , -6 UNF, 15.60076, -4 VICR, 18.78251, -2 average, 17.7.222109, -2.6 [/table]
View table here When formatting problems occur.
As you can see, these stocks had an average of 17.7 hedge funds with bullish positions and the average amount invested in these stocks was $ 222 million. That number was $ 173 million in the case of HR. Arvinas, Inc. (NASDAQ:ARVN) is the most popular stock in this table. On the other hand, Terreno Realty Corporation (NYSE:TRNO) is the least popular with only 9 bullish hedge fund positions. Healthcare Realty Trust Inc (NYSE: HR) isn’t the most popular stock in this group, but interest in hedge funds is still above average. Our hedge fund sentiment score for HR is 68 overall. Stocks with a higher number of hedge fund positions compared to other stocks and relative to their historical range receive a higher sentiment score. This is a slightly positive sign, but we prefer to spend our time researching stocks that hedge funds are piling up on. Our calculations have shown that Top 30 most popular stocks Hedge funds returned 81.2% in 2019 and 2020, outperforming the S&P 500 ETF (SPY) by 26 percentage points. These stocks gained 12.3% through April 19, 2021, again outperforming the market by 0.9 percentage points. Unfortunately, HR wasn’t nearly as popular as these 30 HR-betting stocks and hedge funds disappointed, as the stock returned 8% since late December (through April 19) and underperformed the market. If you’re interested in investing in large-cap stocks with big upside potential, this is what you should check out Top 30 most popular stocks In hedge funds, many of these stocks have outperformed the market since 2019.
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Disclosure: None. This article was originally published at Insider monkey.