abrdn plc lifted its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 83.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,438 shares of the real estate investment trust's stock after purchasing an additional 17,903 shares during the period. abrdn plc's holdings in Acadia Realty Trust were worth $946,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AKR. Jane Street Group LLC increased its holdings in shares of Acadia Realty Trust by 3.6% during the 3rd quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust's stock worth $2,358,000 after acquiring an additional 3,453 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Acadia Realty Trust during the 3rd quarter worth approximately $202,000. Contravisory Investment Management Inc. acquired a new position in shares of Acadia Realty Trust during the 4th quarter worth approximately $297,000. KBC Group NV increased its holdings in shares of Acadia Realty Trust by 44.1% during the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock worth $114,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Acadia Realty Trust by 11.8% during the 3rd quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust's stock worth $18,240,000 after acquiring an additional 81,853 shares during the last quarter. Institutional investors own 97.65% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. StockNews.com lowered Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. Truist Financial upped their price objective on 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $23.00.
Get Our Latest Report on Acadia Realty Trust
Acadia Realty Trust Stock Performance
NYSE AKR traded down $0.85 on Friday, reaching $23.90. The stock had a trading volume of 1,151,262 shares, compared to its average volume of 928,615. 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 firm has a fifty day moving average of $23.61 and a two-hundred day moving average of $23.49. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. The company has a market cap of $2.86 billion, a P/E ratio of 265.51, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. On average, equities research analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.
Acadia Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust's dividend payout ratio is 844.44%.
About Acadia Realty Trust
(
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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