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Hedge Fund-Owned REIT Beats Analyst Expectations

Photo credit: 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.

Photo credit: 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]

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