Sandia Investment Management LP Acquires New Stake in Acadia Realty Trust (NYSE:AKR)

Sandia Investment Management LP purchased a new position in Acadia Realty Trust (NYSE:AKR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the real estate investment trust’s stock, valued at approximately $121,000.

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas lifted its holdings in shares of Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 489 shares during the last quarter. Monument Capital Management boosted its holdings in shares of Acadia Realty Trust by 3.7% during the 4th quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 489 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 worth $36,000 after acquiring an additional 717 shares in the last quarter. Captrust Financial Advisors grew its position in Acadia Realty Trust by 2.1% in the fourth quarter. Captrust Financial Advisors now owns 34,877 shares of the real estate investment trust’s stock worth $843,000 after acquiring an additional 731 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Acadia Realty Trust by 1.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 57,510 shares of the real estate investment trust’s stock worth $1,389,000 after purchasing an additional 764 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock opened at $20.27 on Friday. 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 business has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $22.56. The stock has a market capitalization of $2.65 billion, a P/E ratio of 112.59, a PEG 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.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results 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 business had revenue of $104.39 million during 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 quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. As a group, analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, June 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 500.00%.

Insider Activity at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Truist Financial raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, April 10th.

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.