Longboard Asset Management LP Takes Position in Acadia Realty Trust (NYSE:AKR)

Longboard Asset Management LP purchased a new stake in Acadia Realty Trust (NYSE:AKR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,824 shares of the real estate investment trust’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Acadia Realty Trust by 290.3% in the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Acadia Realty Trust by 381.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock valued at $15,422,000 after acquiring an additional 520,319 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Acadia Realty Trust by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust’s stock worth $45,331,000 after acquiring an additional 83,180 shares during the period. Barclays PLC lifted its stake in shares of Acadia Realty Trust by 11.8% in the 3rd 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 during the period. Finally, Geode Capital Management LLC boosted its position in shares of Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock worth $62,033,000 after purchasing an additional 63,672 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Down 1.0 %

Shares of Acadia Realty Trust stock opened at $22.81 on Tuesday. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $2.73 billion, a P/E ratio of 253.39, a price-to-earnings-growth ratio of 6.16 and a beta of 1.46. The business has a 50-day moving average of $23.98 and a two-hundred day moving average of $23.32.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.33%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial boosted their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Acadia Realty Trust currently has an average rating of “Hold” and an average target price of $23.00.

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.