Mg(2+)-dependent phosphatidate (PA) phosphatase which catalyzes the dephosphorylation of PA to yield diacylglycerol. May play a role in vesicular trafficking through its PAP activity at cortical actin patches (PubMed:23071111, PubMed:23335564). Can also utilize diacylglycerol pyrophosphate and lyso-PA as substrates with specificity constants 4- and 7-fold lower, respectively, when compared with PA (PubMed:23335564). a 1,2-diacyl-sn-glycero-3-phosphate + H2O = a 1,2-diacyl-sn-glycerol + phosphate 1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphate + H2O = 1,2-di-(9Z-octadecenoyl)-sn-glycerol + phosphate Inhibited by N-ethylmaleimide. Optimum pH is 7.5. Optimum temperature is 30 degrees Celsius. Monomer (PubMed:23335564). Interacts with ABP1 (PubMed:14737190). Contains one Asp-Xaa-Asp-Xaa-Thr (DXDXT) motif, a catalytic motif essential for phosphatidate phosphatase activity. N-glycosylated. Present with 2289 molecules/cell in log phase SD medium. Truncated N-terminus.