Burkehill Global Management LP Acquires New Position in Acadia Realty Trust (NYSE:AKR)

Burkehill Global Management LP acquired a new stake in Acadia Realty Trust (NYSE:AKR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200,000 shares of the real estate investment trust’s stock, valued at approximately $4,832,000. Burkehill Global Management LP owned about 0.17% of Acadia Realty Trust at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of 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 valued at $36,000 after purchasing an additional 717 shares during the last quarter. USA Financial Formulas grew its holdings in Acadia Realty Trust by 14.4% in the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 489 shares in the last quarter. KBC Group NV increased its stake 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 acquiring an additional 1,448 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Acadia Realty Trust in the 3rd quarter worth $202,000. Finally, Longboard Asset Management LP purchased a new position in shares of Acadia Realty Trust during the 4th quarter worth $213,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AKR. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial increased their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.00.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $21.58 on Thursday. The stock has a market cap of $2.58 billion, a PE ratio of 119.86, a P/E/G ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a twelve month low of $16.10 and a twelve month high of $26.29. The stock has a fifty day simple moving average of $23.02 and a 200-day simple moving average of $23.68. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. Equities analysts anticipate 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 will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.20 dividend. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.71%. Acadia Realty Trust’s payout ratio is presently 444.44%.

About Acadia Realty Trust

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.