D. E. Shaw & Co. Inc. Acquires Shares of 188,930 Acadia Realty Trust (NYSE:AKR)

D. E. Shaw & Co. Inc. acquired a new stake in Acadia Realty Trust (NYSE:AKR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 188,930 shares of the real estate investment trust’s stock, valued at approximately $4,565,000. D. E. Shaw & Co. Inc. owned approximately 0.16% of Acadia Realty Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Acadia Realty Trust by 91.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 717 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 3,344 shares during the period. KBC Group NV increased its position in shares of Acadia Realty Trust by 44.1% in the fourth 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. Xponance Inc. bought a new position in shares of Acadia Realty Trust in the fourth quarter worth $203,000. Finally, Longboard Asset Management LP bought a new position in shares of Acadia Realty Trust in the fourth quarter worth $213,000. 97.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 Stock Up 0.8%

Shares of NYSE AKR opened at $20.27 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. Acadia Realty Trust has a 52 week low of $16.14 and a 52 week high of $26.29. 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. The stock’s fifty day moving average is $19.95 and its 200 day moving average is $22.55.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $104.39 million for the quarter, compared to analysts’ expectations of $86.99 million. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Acadia Realty Trust’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. Sell-side analysts forecast 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Monday, June 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 500.00%.

Insider Activity at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.83% of the stock is currently owned by insiders.

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.