Point72 Asset Management L.P. Invests $10.65 Million in Acadia Realty Trust (NYSE:AKR)

Point72 Asset Management L.P. purchased a new stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 440,832 shares of the real estate investment trust's stock, valued at approximately $10,650,000. Point72 Asset Management L.P. owned approximately 0.37% of Acadia Realty Trust as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 717 shares in the last quarter. Sterling Capital Management LLC raised its position in Acadia Realty Trust by 960.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 3,344 shares in the last quarter. KBC Group NV raised its position in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 1,448 shares in the last quarter. Xponance Inc. purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $203,000. Finally, Longboard Asset Management LP purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $213,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Insider Transactions at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the business's stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Company insiders own 2.83% 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.

Acadia Realty Trust Trading Down 0.1%

Shares of AKR traded down $0.02 during trading hours on Friday, hitting $18.98. The company had a trading volume of 799,125 shares, compared to its average volume of 1,072,825. The firm has a market cap of $2.49 billion, a P/E ratio of 105.45, a P/E/G ratio of 6.09 and a beta of 1.39. The stock's 50 day moving average price is $19.76 and its 200 day moving average price is $22.36. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. Acadia Realty Trust has a 52-week low of $16.14 and a 52-week high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $104.39 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.21%. Acadia Realty Trust's dividend payout ratio is currently 500.00%.

Acadia Realty Trust Company Profile

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.