Acadia Realty Trust
US ˙ NYSE ˙ US0042391096

Introduction

This page provides a comprehensive analysis of the known insider trading history of University Yale. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

See Highest Ranking Insiders
Companies with Reported Insider Positions

The SEC filings indicate University Yale has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:JBGS / JBG SMITH Properties Director 3,871,118
US:AKR / Acadia Realty Trust Director 1,932,938
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by University Yale. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases AKR / Acadia Realty Trust - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in AKR / Acadia Realty Trust. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

AKR / Acadia Realty Trust Insider Trades
Insider Sales AKR / Acadia Realty Trust - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in AKR / Acadia Realty Trust. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2007-02-28 AKR YALE UNIVERSITY 109,200 26.9800 109,200 26.9800 2,946,216 324 22.04 -539,448 -18.31
2007-02-27 AKR YALE UNIVERSITY 50,800 27.0193 50,800 27.0193 1,372,580
2007-02-20 AKR YALE UNIVERSITY 60,000 27.8400 60,000 27.8400 1,670,400
2006-08-07 AKR YALE UNIVERSITY 11,200 23.6900 11,200 23.6900 265,328
2006-08-04 AKR YALE UNIVERSITY 15,000 23.7600 15,000 23.7600 356,400
2006-03-10 AKR YALE UNIVERSITY 46,190 22.7960 46,190 22.7960 1,052,947
2006-03-09 AKR YALE UNIVERSITY 46,190 22.4014 46,190 22.4014 1,034,721
2006-03-08 AKR YALE UNIVERSITY 30,209 22.0938 30,209 22.0938 667,432
2006-03-07 AKR YALE UNIVERSITY 107,809 22.3372 107,809 22.3372 2,408,151
2006-03-06 AKR YALE UNIVERSITY 56,260 23.1243 56,260 23.1243 1,300,973
2005-11-15 AKR YALE UNIVERSITY 30,000 19.5447 30,000 19.5447 586,341
2005-11-11 AKR YALE UNIVERSITY 16,245 19.4260 16,245 19.4260 315,575
2005-11-10 AKR YALE UNIVERSITY 146,838 19.1165 146,838 19.1165 2,807,029
2005-11-09 AKR YALE UNIVERSITY 61,917 19.2171 61,917 19.2171 1,189,865

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

AKR / Acadia Realty Trust Insider Trades
Insider Purchases JBGS / JBG SMITH Properties - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in AKR / Acadia Realty Trust. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

JBGS / JBG SMITH Properties Insider Trades
Insider Sales JBGS / JBG SMITH Properties - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in AKR / Acadia Realty Trust. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2018-12-12 JBGS YALE UNIVERSITY 20,600 38.0400 20,600 38.0400 783,624 12 33.7500 -88,374 -11.28
2018-12-11 JBGS YALE UNIVERSITY 15,233 38.2700 15,233 38.2700 582,967
2018-12-10 JBGS YALE UNIVERSITY 131,000 38.3900 131,000 38.3900 5,029,090
2018-12-07 JBGS YALE UNIVERSITY 74,160 39.3600 74,160 39.3600 2,918,938
2018-12-07 JBGS YALE UNIVERSITY 72,753 39.8000 72,753 39.8000 2,895,569
2018-12-06 JBGS YALE UNIVERSITY 73,100 39.3900 73,100 39.3900 2,879,409
2018-12-06 JBGS YALE UNIVERSITY 76,900 40.0900 76,900 40.0900 3,082,921
2018-12-04 JBGS YALE UNIVERSITY 41,912 39.6300 41,912 39.6300 1,660,973
2018-12-04 JBGS YALE UNIVERSITY 58,088 39.9600 58,088 39.9600 2,321,196
2018-12-03 JBGS YALE UNIVERSITY 60,000 40.1700 60,000 40.1700 2,410,200
2018-11-30 JBGS YALE UNIVERSITY 55,000 39.8300 55,000 39.8300 2,190,650
2018-11-29 JBGS YALE UNIVERSITY 45,392 39.4000 45,392 39.4000 1,788,445
2018-11-28 JBGS YALE UNIVERSITY 53,279 39.2000 53,279 39.2000 2,088,537
2018-11-27 JBGS YALE UNIVERSITY 100,000 39.0700 100,000 39.0700 3,907,000
2018-11-26 JBGS YALE UNIVERSITY 46,200 39.2900 46,200 39.2900 1,815,198
2018-11-26 JBGS YALE UNIVERSITY 28,800 39.8800 28,800 39.8800 1,148,544
2018-11-23 JBGS YALE UNIVERSITY 51,000 39.9900 51,000 39.9900 2,039,490
2018-11-21 JBGS YALE UNIVERSITY 100,000 40.0400 100,000 40.0400 4,004,000
2018-11-20 JBGS YALE UNIVERSITY 100,000 40.1900 100,000 40.1900 4,019,000
2018-11-19 JBGS YALE UNIVERSITY 30,000 40.4800 30,000 40.4800 1,214,400
2018-06-15 JBGS YALE UNIVERSITY 40,533 38.1230 40,533 38.1230 1,545,240

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

JBGS / JBG SMITH Properties Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by University Yale as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2018-12-12 2018-12-12 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -20,600 3,871,118 -0.53 38.04 -783,624 147,257,329
2018-12-12 2018-12-11 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -15,233 3,891,718 -0.39 38.27 -582,967 148,936,048
2018-12-12 2018-12-10 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -131,000 3,906,951 -3.24 38.39 -5,029,090 149,987,849
2018-12-10 2018-12-07 4 JBGS JBG SMITH Properties
Commons Shares 		S - Sale -72,753 4,037,951 -1.77 39.80 -2,895,569 160,710,450
2018-12-10 2018-12-07 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -74,160 4,110,704 -1.77 39.36 -2,918,938 161,797,309
2018-12-10 2018-12-06 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -76,900 4,184,864 -1.80 40.09 -3,082,921 167,771,198
2018-12-10 2018-12-06 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -73,100 4,261,764 -1.69 39.39 -2,879,409 167,870,884
2018-12-06 2018-12-04 4 JBGS JBG SMITH Properties
Commons Shares 		S - Sale -58,088 4,334,864 -1.32 39.96 -2,321,196 173,221,165
2018-12-06 2018-12-04 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -41,912 4,392,952 -0.95 39.63 -1,660,973 174,092,688
2018-12-06 2018-12-03 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -60,000 4,434,864 -1.33 40.17 -2,410,200 178,148,487
2018-12-03 2018-11-30 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -55,000 4,494,864 -1.21 39.83 -2,190,650 179,030,433
2018-12-03 2018-11-29 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -45,392 4,549,864 -0.99 39.40 -1,788,445 179,264,642
2018-11-29 2018-11-28 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -53,279 4,595,256 -1.15 39.20 -2,088,537 180,134,035
2018-11-29 2018-11-27 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -100,000 4,648,535 -2.11 39.07 -3,907,000 181,618,262
2018-11-27 2018-11-26 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -28,800 4,748,535 -0.60 39.88 -1,148,544 189,371,576
2018-11-27 2018-11-26 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -46,200 4,777,335 -0.96 39.29 -1,815,198 187,701,492
2018-11-27 2018-11-23 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -51,000 4,823,535 -1.05 39.99 -2,039,490 192,893,165
2018-11-26 2018-11-21 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -100,000 4,874,535 -2.01 40.04 -4,004,000 195,176,381
2018-11-21 2018-11-20 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -100,000 4,974,535 -1.97 40.19 -4,019,000 199,926,562
2018-11-21 2018-11-19 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -30,000 5,074,535 -0.59 40.48 -1,214,400 205,417,177
2018-06-19 2018-06-15 4 JBGS JBG SMITH Properties
Common Shares 		S - Sale -40,533 5,104,535 -0.79 38.12 -1,545,240 194,600,188
2018-05-22 2018-05-03 4 JBGS JBG SMITH Properties
LTIP Units 		A - Award 2,577 9,315 38.25
2017-08-25 2017-07-18 4/A JBGS JBG SMITH Properties
Common Shares 		J - Other 5,145,068 5,145,068 37.10 190,882,023 190,882,023
2017-07-20 2017-07-18 4 JBGS JBG SMITH Properties
LTIP Units 		A - Award 6,738 6,738
2017-07-20 2017-07-18 4 JBGS JBG SMITH Properties
Common Shares 		J - Other 5,145,068 5,145,068
2007-03-02 2007-02-28 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -109,200 1,932,938 -5.35 26.98 -2,946,216 52,150,667
2007-03-01 2007-02-27 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -50,800 2,042,138 -2.43 27.02 -1,372,580 55,177,139
2007-02-22 2007-02-20 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -60,000 2,092,938 -2.79 27.84 -1,670,400 58,267,394
2006-08-08 2006-08-07 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -11,200 2,157,038 -0.52 23.69 -265,328 51,100,230
2006-08-07 2006-08-04 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -15,000 2,168,238 -0.69 23.76 -356,400 51,517,335
2006-03-13 2006-03-10 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -46,190 2,283,080 -1.98 22.80 -1,052,947 52,045,092
2006-03-13 2006-03-09 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -46,190 2,329,270 -1.94 22.40 -1,034,721 52,178,909
2006-03-10 2006-03-08 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -30,209 2,375,460 -1.26 22.09 -667,432 52,482,938
2006-03-09 2006-03-07 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -107,809 2,405,669 -4.29 22.34 -2,408,151 53,735,910
2006-03-08 2006-03-06 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -56,260 2,513,478 -2.19 23.12 -1,300,973 58,122,419
2005-11-17 2005-11-15 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -30,000 2,569,738 -1.15 19.54 -586,341 50,224,758
2005-11-15 2005-11-11 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -16,245 2,599,738 -0.62 19.43 -315,575 50,502,510
2005-11-14 2005-11-10 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -146,838 2,615,983 -5.31 19.12 -2,807,029 50,008,439
2005-11-14 2005-11-09 4 AKR ACADIA REALTY TRUST
Common Shares of Beneficial Interest 		S - Sale -61,917 2,762,821 -2.19 19.22 -1,189,865 53,093,407
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)