Stag Industrial Inc (STAG), New York REIT Inc (NYRT): Biggest Q3 Moves Made by REIT Masters Forward Management

Stag Industrial Inc (NYSE:STAG)

– Shares Owned by Forward Management (as of September 30): 1.37 Million

– Value of the Holding (as of September 30): $33.53 Million

Moving on, Forward Management lowered its stake in Stag Industrial Inc (NYSE:STAG) by 30% during the third quarter. Another hedge fund that reduced its stake in the REIT during that period was billionaire Ken Griffin‘s Citadel Investment Group, which brought its holding down by 77% to 17,256 shares. Stag Industrial Inc (NYSE:STAG) focuses on the acquisition and operation of single-tenant industrial properties across the United States. The REIT currently owns around 290 buildings in over 40 states with around 54.7 million rentable square feet. Its shares have appreciated by over 18% this year, but that hasn’t made a major dent to its forward yield, which still stands at a respectable 6.37%.

Sabra Health Care REIT Inc (NASDAQ:SBRA)

– Shares Owned by Forward Management (as of September 30): 1.86 Million

– Value of the Holding (as of September 30): $46.91 Million

Though the stock of Sabra Health Care REIT Inc (NASDAQ:SBRA) appreciated by over 20% during the third quarter, the REIT still dropped three positions during that period to become Forward Management’s seventh-largest equity holding at the end of September, as the fund reduced its stake in it by 22%. Looking back, it seems that Forward Management made a smart move, as shares of Sabra Health Care REIT Inc (NASDAQ:SBRA) have given up all of those the gains in the current quarter and are currently trading up by only 1.24% year-to-date. Most of the fall that the stock has seen came recently when the REIT reported FFO of $0.54 per share for the third quarter, missing analysts’ estimate by $0.03. Nevertheless, its revenue for the quarter saw a 3.3% year-over-year increase to $61.93 million. Currently, Sabra Health Care REIT’s stock sports an average rating of ‘Hold’ and an average price target of $24.33 from the 13 leading analysts on the Street who track it.

SPDR Bloomberg Barclays 1-3 Month T Bill (ETF) (NYSEARCA:BIL)

– Shares Owned by Forward Management (as of September 30): 1.17 Million

– Value of the Holding (as of September 30): $53.58 Million

Finally, Forward Management lowered its stake in the SPDR Bloomberg Barclays 1-3 Month T Bill (ETF) (NYSEARCA:BIL), which was its top equity holding at the end of second quarter, by 58% during the third quarter, relegating the ETF to the third spot in its portfolio. The SPDR Bloomberg Barclays 1-3 Month T Bill (ETF) (NYSEARCA:BIL) tracks and seeks to provide the investment results that correspond generally to the price and yield performance of the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index, before fees and expenses. Though the ETF and the Treasury market have seen extreme downside volatility after the results of the Presidential elections were announced,  the net asset value (NAV) of the SPDR Bloomberg Barclays 1-3 Month T Bill is still up by 0.10% year-to-date.

Disclosure: None