D. E. Shaw & Co. Inc. Takes $4.57 Million Position in Acadia Realty Trust (NYSE:AKR)

D. E. Shaw & Co. Inc. purchased a new stake in shares of Acadia Realty Trust (NYSE:AKR) during the fourth quarter, Holdings Channel reports. The fund purchased 188,930 shares of the real estate investment trust’s stock, valued at approximately $4,565,000.

Other hedge funds have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Acadia Realty Trust during the fourth quarter valued at about $552,000. KBC Group NV boosted its stake in shares of 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. Barclays PLC boosted its stake in shares of Acadia Realty Trust by 11.8% during the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after purchasing an additional 81,853 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Acadia Realty Trust by 10.7% during the fourth quarter. Yousif Capital Management LLC now owns 45,038 shares of the real estate investment trust’s stock valued at $1,088,000 after purchasing an additional 4,341 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Acadia Realty Trust in the fourth quarter worth approximately $8,439,000. 97.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 research note on Thursday, April 10th.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $20.27 on Friday. The stock’s 50 day moving average is $19.95 and its 200 day moving average is $22.55. 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 firm has a market cap of $2.65 billion, a P/E ratio of 112.59, a P/E/G ratio of 6.09 and a beta of 1.39. Acadia Realty Trust has a one year low of $16.14 and a one year high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data 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 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 firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, research analysts expect that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend 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 currently 500.00%.

Insiders Place Their Bets

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction that occurred 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 this hyperlink. 2.83% of the stock is currently owned by corporate 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.