Acadia Realty Trust (NYSE:AKR) was in 5 hedge funds’ portfolio at the end of the fourth quarter of 2012. AKR shareholders have witnessed an increase in enthusiasm from smart money recently. There were 4 hedge funds in our database with AKR holdings at the end of the previous quarter.
At the moment, there are many metrics investors can use to analyze their holdings. Some of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite fund managers can outclass the market by a very impressive margin (see just how much).
Equally as important, bullish insider trading sentiment is another way to break down the marketplace. Obviously, there are plenty of stimuli for an executive to sell shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the valuable potential of this method if shareholders understand what to do (learn more here).
With these “truths” under our belt, we’re going to take a gander at the recent action encompassing Acadia Realty Trust (NYSE:AKR).
What does the smart money think about Acadia Realty Trust (NYSE:AKR)?
At the end of the fourth quarter, a total of 5 of the hedge funds we track were long in this stock, a change of 25% from the third quarter. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were increasing their holdings substantially.
Of the funds we track, Fisher Asset Management, managed by Ken Fisher, holds the most valuable position in Acadia Realty Trust (NYSE:AKR). Fisher Asset Management has a $30.3 million position in the stock, comprising 0.1% of its 13F portfolio. The second largest stake is held by Israel Englander of Millennium Management, with a $1 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining peers that hold long positions include Cliff Asness’s AQR Capital Management, Martin Whitman’s Third Avenue Management and Jim Simons’s Renaissance Technologies.
As industrywide interest jumped, key money managers were leading the bulls’ herd. Millennium Management, managed by Israel Englander, created the most valuable position in Acadia Realty Trust (NYSE:AKR). Millennium Management had 1 million invested in the company at the end of the quarter.
How are insiders trading Acadia Realty Trust (NYSE:AKR)?
Bullish insider trading is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the last 180-day time frame, Acadia Realty Trust (NYSE:AKR) has seen zero unique insiders purchasing, and 6 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Acadia Realty Trust (NYSE:AKR). These stocks are CoStar Group Inc (NASDAQ:CSGP), Rouse Properties Inc (NYSE:RSE), FirstService Corporation (USA) (NASDAQ:FSRV), DuPont Fabros Technology, Inc. (NYSE:DFT), and Kennedy-Wilson Holdings Inc (NYSE:KW). This group of stocks are in the property management industry and their market caps are closest to AKR’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|CoStar Group Inc (NASDAQ:CSGP)||8||0||5|
|Rouse Properties Inc (NYSE:RSE)||7||3||0|
|FirstService Corporation (USA) (NASDAQ:FSRV)||3||0||0|
|DuPont Fabros Technology, Inc. (NYSE:DFT)||6||0||2|
|Kennedy-Wilson Holdings Inc (NYSE:KW)||7||0||0|
With the returns shown by our research, everyday investors must always pay attention to hedge fund and insider trading sentiment, and Acadia Realty Trust (NYSE:AKR) shareholders fit into this picture quite nicely.