Luminus Management LLC acquired a new position in shares of Acadia Realty Trust (NYSE:AKR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 40,311 shares of the real estate investment trust’s stock, valued at approximately $1,103,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Two Sigma Investments LP purchased a new position in Acadia Realty Trust during the 4th quarter worth $1,745,000. Two Sigma Advisers LP purchased a new position in shares of Acadia Realty Trust in the 4th quarter valued at $331,000. Teachers Insurance & Annuity Association of America increased its holdings in shares of Acadia Realty Trust by 10.4% in the 4th quarter. Teachers Insurance & Annuity Association of America now owns 90,769 shares of the real estate investment trust’s stock valued at $2,483,000 after acquiring an additional 8,567 shares during the period. Deutsche Bank AG increased its holdings in shares of Acadia Realty Trust by 83.6% in the 4th quarter. Deutsche Bank AG now owns 193,364 shares of the real estate investment trust’s stock valued at $5,289,000 after acquiring an additional 88,022 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of Acadia Realty Trust in the 4th quarter valued at $1,439,000.
Acadia Realty Trust (NYSE AKR) opened at $24.80 on Wednesday. Acadia Realty Trust has a fifty-two week low of $21.34 and a fifty-two week high of $32.02. The stock has a market capitalization of $2,092.54, a price-to-earnings ratio of 34.44, a PEG ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.40 and a quick ratio of 0.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.35%. Acadia Realty Trust’s payout ratio is 150.00%.
Acadia Realty Trust announced that its board has authorized a share buyback program on Wednesday, February 21st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup cut their price target on Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Boenning Scattergood reiterated a “buy” rating on shares of Acadia Realty Trust in a report on Friday, February 23rd. Finally, KeyCorp downgraded Acadia Realty Trust from an “overweight” rating to a “hold” rating in a report on Monday, November 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Acadia Realty Trust has a consensus rating of “Buy” and an average price target of $32.75.
In other news, insider Joseph Napolitano sold 14,626 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $25.26, for a total value of $369,452.76. Following the completion of the sale, the insider now owns 14,744 shares of the company’s stock, valued at approximately $372,433.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.74% of the stock is owned by company insiders.
Acadia Realty Trust Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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