Hedge Funds
Newbrook Capital Advisors, the $1.8 billion hedge fund run by Robert Boucai, has a new short bet, and this time it’s targeting a company in the real-estate sector. In a quarterly letter to investors obtained by Bloomberg News, the firm said it’s betting against an unnamed real estate investment trust, specifically a storage REIT that has more than 1,000 properties across 38 states. Newbrook cited top-line pressure from increasing supply and expense cuts that are limiting upside in net operating income growth. Extra Space Storage Inc. seems to fit the bill.

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