Point72 Asset Management L.P. acquired a new stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 440,832 shares of the real estate investment trust's stock, valued at approximately $10,650,000. Point72 Asset Management L.P. owned about 0.37% of Acadia Realty Trust as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of Acadia Realty Trust by 91.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock worth $36,000 after buying an additional 717 shares during the period. Sterling Capital Management LLC grew its stake in Acadia Realty Trust by 960.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 3,344 shares in the last quarter. KBC Group NV increased its holdings in shares of 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 valued at $114,000 after purchasing an additional 1,448 shares during the period. Xponance Inc. purchased a new stake in shares of Acadia Realty Trust in the fourth quarter worth approximately $203,000. Finally, Longboard Asset Management LP acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth approximately $213,000. Institutional investors and hedge funds own 97.65% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Truist Financial upgraded shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Thursday, April 10th.
Check Out Our Latest Stock Analysis on AKR
Insider Buying and Selling
In related news, EVP Jason Blacksberg sold 30,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.83% of the stock is currently owned by corporate insiders.
Acadia Realty Trust Stock Down 0.1%
Shares of NYSE AKR traded down $0.02 during mid-day trading on Friday, reaching $18.98. The company had a trading volume of 799,125 shares, compared to its average volume of 1,072,157. Acadia Realty Trust has a twelve month low of $16.14 and a twelve month high of $26.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $2.49 billion, a PE ratio of 105.45, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39. The stock's 50 day moving average is $19.76 and its 200-day moving average is $22.38.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $104.39 million during the quarter, compared to analysts' expectations of $86.99 million. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. Acadia Realty Trust's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.
Acadia Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Monday, June 30th. Acadia Realty Trust's dividend payout ratio is presently 500.00%.
About Acadia Realty Trust
(
Free Report)
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.
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