Point72 Asset Management L.P. Purchases Shares of 440,832 Acadia Realty Trust (NYSE:AKR)

Point72 Asset Management L.P. acquired a new stake in Acadia Realty Trust (NYSE:AKR) during 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.

Several other hedge funds and other institutional investors have also made changes to their positions in AKR. Smartleaf Asset Management LLC increased its stake in 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 valued at $36,000 after purchasing an additional 717 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Acadia Realty Trust by 960.9% in 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 buying an additional 3,344 shares in the last quarter. KBC Group NV grew its position 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 buying an additional 1,448 shares during the last quarter. Xponance Inc. acquired a new stake in Acadia Realty Trust during the 4th quarter worth $203,000. Finally, Longboard Asset Management LP purchased a new stake in Acadia Realty Trust in the fourth quarter valued at $213,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Thursday, April 10th.

Insider Buying and Selling at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.83% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $20.27 on Monday. The company’s 50 day simple moving average is $19.95 and its 200-day simple moving average is $22.53. The firm has a market cap of $2.65 billion, a PE ratio of 112.59, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39. Acadia Realty Trust has a 12-month low of $16.14 and a 12-month high of $26.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61.

Acadia Realty Trust (NYSE:AKR) 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 the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. The company had revenue of $104.39 million for the quarter, compared to the consensus estimate of $86.99 million. During the same period last year, the firm posted $0.33 EPS. Acadia Realty Trust’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.95%. Acadia Realty Trust’s payout ratio is 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.