Wellington Management Group LLP reduced its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,954,618 shares of the real estate investment trust's stock after selling 3,048,511 shares during the quarter. Wellington Management Group LLP owned 2.47% of Acadia Realty Trust worth $71,384,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of AKR. Smartleaf Asset Management LLC increased its stake in shares of Acadia Realty Trust by 91.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 717 shares during the period. USA Financial Formulas lifted its holdings in Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock worth $94,000 after acquiring an additional 489 shares during the period. KBC Group NV lifted its holdings in Acadia Realty Trust by 44.1% during the fourth 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 period. Xponance Inc. purchased a new stake in Acadia Realty Trust in the fourth quarter worth $203,000. Finally, Longboard Asset Management LP purchased a new stake in Acadia Realty Trust in the fourth quarter worth $213,000. 97.65% of the stock is currently owned by institutional investors.
Acadia Realty Trust Stock Down 3.5 %
AKR stock traded down $0.67 on Thursday, reaching $18.33. 191,282 shares of the company traded hands, compared to its average volume of 1,064,429. Acadia Realty Trust has a one year low of $16.14 and a one year high of $26.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $2.20 billion, a P/E ratio of 102.04, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. The firm has a fifty day simple moving average of $21.88 and a 200-day simple moving average of $23.32.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Increases Dividend
The company 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.36%. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. Acadia Realty Trust's payout ratio is 444.44%.
Insiders Place Their Bets
In related news, EVP Jason Blacksberg sold 30,000 shares of the business's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is currently owned by insiders.
Analyst Ratings Changes
Separately, Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research note on Thursday.
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Acadia Realty Trust 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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