News
Hedge Fund-Owned REIT Beats Analyst Expectations
March 14, 2016
YouTube/Physical Gold Fund
Hedge fund manager David Einhorn’s Green Brick Partners—a $420M residential REIT—saw a 17% jump at the close of last week, erasing this year's losses.
Green Brick traded for $7.39 at 4 pm Friday—up $1.07—producing adjusted earnings over the last three months that blows most companies out of the water, Bloomberg reports.
Wikimedia/Tysto
And Einhorn has even more reasons to be pleased. Q4 revenue from the sale of residential properties jumped 34% to $75.1M. If that wasn’t enough, his main hedge fund rose 3.3% this year through February while his Greenlight Capital is up 17% since Dec. 31. [Bloomberg]
