In this article, we discuss 10 real estate stocks to buy now according to Charles Fitzgerald’s V3 Capital. If you want to skip our detailed analysis of Fitzgerald’s history, investment philosophy, and hedge fund performance, go directly to 5 Real Estate Stocks to Buy Now According to Charles Fitzgerald’s V3 Capital.
Charles Fitzgerald established the hedge fund V3 Capital in 2011. He started his career as an analyst and portfolio manager at JP Morgan Investment Management. Later, he worked as a managing partner, co-portfolio manager, and research director at High Rise Capital Management. Currently, he works as the senior managing partner at V3 Capital.
V3 Capital is a New York-based hedge fund. It manages pooled investment vehicles and provides investment management services. When it comes to investing, it concentrates on the real estate industry. The portfolio value of the hedge fund at the end of the fourth quarter of 2021 was $693.29 million, down from $750.83 million in the third quarter of 2021. The fund’s stock holdings can be better understood by looking at the 13F filings for the fourth quarter of 2021. V3 Capital made new purchases in 3 stocks, additional purchases in 4, and reduced holdings in 4 stocks. It also sold off 5 stocks entirely.
Apartment Income REIT Corp. (NYSE:AIRC), JBG SMITH Properties (NYSE:JBGS), and Healthcare Trust of America, Inc. (NYSE:HTA), among others, were among the prominent companies in V3 Capital’s portfolio in the fourth quarter.
Based on the 13F holdings for the fourth quarter of 2021, V3 Capital owns 1.37 million shares in Apartment Income REIT Corp. (NYSE:AIRC) after increasing its holding by 3% from the third quarter of 2021. Apartment Income REIT Corp. (NYSE:AIRC) shares have gained about 23.54% in value over the last twelve months as of March 19.
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Another notable stock in Charles Fitzgerald’s V3 Capital portfolio is JBG SMITH Properties (NYSE:JBGS). The investor owns a $96.84 million stake in the company. JBG SMITH Properties (NYSE: JBGS) was given an Outperform rating and a $37 price target by Wolfe Research analyst Andrew Rosivach on January 5.
Charles Fitzgerald also owns shares of Healthcare Trust of America, Inc. (NYSE:HTA). Even though his hedge fund slashed its stake in the company by 18% in the fourth quarter of 2021, it still owns 3.48 million shares of the company, worth $116.20 million. In addition, Healthcare Trust of America, Inc. (NYSE:HTA)’s board of directors declared a quarterly dividend of $0.325 per share of common stock on February 28.
Our Methodology
Here is a list of 10 real estate stocks to buy now according to Charles Fitzgerald’s V3 Capital. We used Fitzgerald’s 13F portfolio for Q4 2021 for this analysis.
The number of hedge funds that own shares in each company was determined using data from roughly 924 top hedge funds tracked by Insider Monkey at the conclusion of the fourth quarter.
Real Estate Stocks to Buy Now According to Charles Fitzgerald’s V3 Capital
10. Independence Realty Trust, Inc. (NYSE:IRT)
V3 Capital Stake Value: $12,599,000
Percentage of V3 Capital’s 13F Portfolio: 1.81%
Number of Hedge Fund Holders: 24
Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and manages multifamily apartment complexes across the United States. Independence Realty Trust, Inc. (NYSE:IRT) was given an Overweight rating and a $30 price target by Barclays analyst Anthony Powell on January 18.
Independence Realty Trust, Inc. (NYSE:IRT) was in 24 hedge funds’ portfolios at the end of the fourth quarter of 2021. Independence Realty Trust, Inc. (NYSE:IRT) has experienced an increase in hedge fund interest lately, as there were 13 hedge funds in Insider Monkey’s database with Independence Realty Trust, Inc. (NYSE:IRT) positions at the end of the third quarter.
Based on its 13F holdings for the fourth quarter of 2021, V3 Capital owns 487,750 shares of Independence Realty Trust, Inc. (NYSE:IRT), valued at $12.60 million. The hedge fund increased its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 37% in the fourth quarter of 2021. Millennium Management is Independence Realty Trust, Inc. (NYSE:IRT)’s largest shareholder, with shares worth $117.92 million.
Independence Realty Trust, Inc. (NYSE:IRT) is one of Charles Fitzgerald’s top real estate stock picks, with the others being Apartment Income REIT Corp. (NYSE:AIRC), JBG SMITH Properties (NYSE:JBGS), and Healthcare Trust of America, Inc. (NYSE:HTA).
9. Washington Real Estate Investment Trust (NYSE:WRE)
V3 Capital Stake Value: $13,814,000
Percentage of V3 Capital’s 13F Portfolio: 1.99%
Number of Hedge Fund Holders: 11
Washington Real Estate Investment Trust (NYSE:WRE) is a real estate investment trust that owns and operates income-producing assets. The company is divided into two segments: office and multifamily. V3 Capital built a sizeable new stake in Washington Real Estate Investment Trust (NYSE:WRE) during Q4 by buying 534,387 shares valued at $13.81 million.
BTIG analyst James Sullivan boosted his price objective on Washington Real Estate Investment Trust (NYSE:WRE) to $29 from $28 on December 13 and maintained a Buy rating on the stock. According to Sullivan in a research report, REITs outpaced the national spread for the second month in succession.
By the end of the fourth quarter of 2021, Insider Monkey identified 11 hedge funds that had stakes in Washington Real Estate Investment Trust (NYSE:WRE). These stakes were worth $67.75 million. As of the fourth quarter of 2021, Jim Simons of Renaissance Technologies is the lead stakeholder in Washington Real Estate Investment Trust (NYSE:WRE). The fund owns 841,900 shares of stock worth $21.76 million.
8. Chatham Lodging Trust (NYSE:CLDT)
V3 Capital Stake Value: $14,802,000
Percentage of V3 Capital’s 13F Portfolio: 2.13%
Number of Hedge Fund Holders: 15
Chatham Lodging Trust (NYSE:CLDT) is a real estate investment trust that buys and sells hotels. It specializes in upmarket extended-stay hotels and premium branded select-service hotels. Chatham Lodging Trust (NYSE:CLDT) declared on March 9 that it had paid $31 million, or $279,000 per room, in an off-market deal for the oceanfront 111-room Hilton Garden Inn based in Miramar Beach, Florida.
Chatham Lodging Trust (NYSE:CLDT), on February 24, posted earnings for the fourth quarter. The reported FFO came in at $0.12, beating estimates by $0.03. Chatham Lodging Trust (NYSE:CLDT) was the latest holding of V3 Capital in Q4 and represented 2.13% of Charles Fitzgerald’s portfolio. The hedge fund held shares worth over $14.80 million in the company.
15 out of the 924 hedge funds held stakes in Chatham Lodging Trust (NYSE:CLDT) in the fourth quarter of 2021, worth $52.63 million, compared to the same number of funds in the preceding quarter, holding stakes in Chatham Lodging Trust (NYSE:CLDT) totaling $40.01 million.
7. American Homes 4 Rent (NYSE:AMH)
V3 Capital Stake Value: $65,599,000
Percentage of V3 Capital’s 13F Portfolio: 9.46%
Number of Hedge Fund Holders: 36
American Homes 4 Rent (NYSE:AMH) is a REIT that invests in the purchase, remodeling, leasing, and management of single-family residences for rental purposes. Austin Wurschmidt of KeyBanc commenced coverage of American Homes 4 Rent (NYSE:AMH) with a Sector Weight rating on February 1.
V3 Capital sold off 9% of its stake in American Homes 4 Rent (NYSE:AMH) during the fourth quarter of 2021, leaving it with 1.50 million shares valued at $65.60 million. Greg Poole’s Echo Street Capital Management is the biggest stakeholder of American Homes 4 Rent (NYSE:AMH), with 5.61 million shares worth $244.70 million.
By the end of the fourth quarter, Insider Monkey found American Homes 4 Rent (NYSE:AMH) to be a part of 36 hedge fund portfolios. The total stakes that these funds had in the company are worth $896.81 million, up from $786.05 million the prior quarter with 33 positions.
6. Invitation Homes Inc. (NYSE:INVH)
V3 Capital Stake Value: $65,635,000
Percentage of V3 Capital’s 13F Portfolio: 9.46%
Number of Hedge Fund Holders: 31
Invitation Homes Inc. (NYSE:INVH) is a company that buys, renovates, leases, and operates single-family homes as rental properties, including homes in planned unit projects. V3 Capital started building its position in Invitation Homes Inc. (NYSE:INVH) during the first quarter of 2021, with shares worth over $19.39 million. Fitzgerald sold 298,975 shares of Invitation Homes Inc. (NYSE:INVH) in the fourth quarter, reducing his remaining stake by about 18%. At the end of the fourth quarter, Fitzgerald still held more than 1.45 million shares of Invitation Homes Inc. (NYSE:INVH), worth about $65.64 million.
On February 1, KeyBanc analyst Austin Wurschmidt initiated coverage of Invitation Homes Inc. (NYSE:INVH) with an Overweight rating and a $46 price target. The analyst predicted that Invitation Homes Inc. (NYSE:INVH) would continue to generate above-average internal growth with a loss-to-lease in the mid-teens and 97.5% -98% target occupancy.
According to our database, the number of Invitation Homes Inc. (NYSE:INVH)’s long hedge funds positions reduced at the end of the fourth quarter of 2021. 31 hedge funds held a position in Invitation Homes Inc. (NYSE:INVH), compared to 36 funds in the third quarter.
Just like Apartment Income REIT Corp. (NYSE:AIRC), JBG SMITH Properties (NYSE:JBGS), and Healthcare Trust of America, Inc. (NYSE:HTA), Invitation Homes Inc. (NYSE:INVH) is one of the real estate stocks to buy now according to Charles Fitzgerald’s V3 Capital.
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Disclosure: None. 10 Real Estate Stocks to Buy Now According to Charles Fitzgerald’s V3 Capital is originally published on Insider Monkey.
