Millennium Management LLC Acquires Shares of 618,872 Acadia Realty Trust (NYSE:AKR)

Millennium Management LLC purchased a new stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 618,872 shares of the real estate investment trust's stock, valued at approximately $14,952,000. Millennium Management LLC owned 0.52% of Acadia Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Acadia Realty Trust in the fourth quarter worth approximately $552,000. KBC Group NV raised its holdings in Acadia Realty Trust by 44.1% in the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock worth $114,000 after purchasing an additional 1,448 shares during the period. Barclays PLC increased its holdings in shares of Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust's stock valued at $18,240,000 after purchasing an additional 81,853 shares during the last quarter. Yousif Capital Management LLC grew its position in Acadia Realty Trust by 10.7% in the fourth quarter. Yousif Capital Management LLC now owns 45,038 shares of the real estate investment trust's stock worth $1,088,000 after acquiring an additional 4,341 shares during the period. Finally, Norges Bank purchased a new position in Acadia Realty Trust in the fourth quarter valued at $8,439,000. Institutional investors own 97.65% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial upgraded Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research report on Thursday, April 10th.

Insider Buying and Selling

In related news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.83% of the company's stock.

Acadia Realty Trust Price Performance

NYSE:AKR traded down $0.34 during trading hours on Wednesday, reaching $19.07. 187,737 shares of the company traded hands, compared to its average volume of 1,069,711. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The firm's 50-day moving average is $19.66 and its 200-day moving average is $22.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $2.50 billion, a P/E ratio of 106.13, a P/E/G ratio of 6.09 and a beta of 1.39.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $104.39 million for the quarter, compared to analyst estimates of $86.99 million. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Equities research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.20%. Acadia Realty Trust's dividend payout ratio is presently 500.00%.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.