Norges Bank acquired a new stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 349,304 shares of the real estate investment trust's stock, valued at approximately $8,439,000. Norges Bank owned 0.29% of Acadia Realty Trust at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AKR. Vanguard Group Inc. lifted its position in Acadia Realty Trust by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock valued at $437,230,000 after acquiring an additional 1,459,448 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Acadia Realty Trust by 11.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock valued at $51,958,000 after purchasing an additional 219,983 shares during the last quarter. Amundi boosted its position in shares of Acadia Realty Trust by 278.1% in the 4th quarter. Amundi now owns 284,052 shares of the real estate investment trust's stock worth $6,479,000 after purchasing an additional 208,933 shares in the last quarter. Burkehill Global Management LP bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth approximately $4,832,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Acadia Realty Trust in the 4th quarter worth approximately $4,165,000. Institutional investors own 97.65% of the company's stock.
Acadia Realty Trust Stock Up 0.7 %
AKR stock traded up $0.14 during midday trading on Friday, hitting $18.71. The company's stock had a trading volume of 777,627 shares, compared to its average volume of 1,062,279. The firm's 50-day moving average is $21.72 and its 200-day moving average is $23.26. 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 has a 12 month low of $16.14 and a 12 month high of $26.29. The company has a market cap of $2.24 billion, a PE ratio of 103.92, a P/E/G ratio of 6.09 and a beta of 1.24.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, equities research analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.
Acadia Realty Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.20 per share. This is an increase 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 4.28%. Acadia Realty Trust's dividend payout ratio is 444.44%.
Insider Transactions at Acadia Realty Trust
In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.83% of the company's stock.
Analyst Ratings Changes
Separately, Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a report on Thursday.
Check Out Our Latest Research Report on Acadia Realty Trust
Acadia Realty Trust Company Profile
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Free Report)
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.
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