Renaissance Technologies LLC Decreases Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Renaissance Technologies LLC reduced its position in Acadia Realty Trust (NYSE:AKR) by 13.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 415,630 shares of the real estate investment trust’s stock after selling 61,871 shares during the quarter. Renaissance Technologies LLC’s holdings in Acadia Realty Trust were worth $10,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AKR. Jane Street Group LLC boosted its stake in Acadia Realty Trust by 3.6% in the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock valued at $2,358,000 after acquiring an additional 3,453 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Acadia Realty Trust during the 4th quarter valued at $297,000. KBC Group NV boosted 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 worth $114,000 after purchasing an additional 1,448 shares in the last quarter. Barclays PLC grew its stake in Acadia Realty Trust by 11.8% during the 3rd quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock worth $18,240,000 after buying an additional 81,853 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Acadia Realty Trust by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after buying an additional 63,672 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Up 1.4 %

NYSE AKR opened at $19.31 on Thursday. Acadia Realty Trust has a 12-month low of $16.14 and a 12-month high of $26.29. The company has a fifty day simple moving average of $21.46 and a two-hundred day simple moving average of $23.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.31 billion, a P/E ratio of 107.28, a P/E/G ratio of 6.09 and a beta of 1.24.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.14%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio is currently 444.44%.

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 target for the company in a report on Thursday, April 10th.

Insider Buying and Selling

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the company’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 document filed with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Acadia Realty Trust 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.