Alliancebernstein L.P. cut its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,426,614 shares of the real estate investment trust's stock after selling 142,167 shares during the quarter. Alliancebernstein L.P. owned approximately 2.03% of Acadia Realty Trust worth $58,627,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in AKR. Smartleaf Asset Management LLC grew its position in shares of Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock worth $36,000 after buying an additional 717 shares in the last quarter. USA Financial Formulas boosted its holdings in Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 489 shares in the last quarter. KBC Group NV boosted its holdings in Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 1,448 shares in the last quarter. Xponance Inc. acquired a new position in Acadia Realty Trust in the fourth quarter valued at approximately $203,000. Finally, Longboard Asset Management LP acquired a new position in Acadia Realty Trust in the fourth quarter valued at approximately $213,000. 97.65% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
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 report on Thursday.
Read Our Latest Analysis on Acadia Realty Trust
Acadia Realty Trust Price Performance
Acadia Realty Trust stock traded down $0.68 during trading hours on Thursday, hitting $18.32. The stock had a trading volume of 191,282 shares, compared to its average volume of 1,064,429. 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 stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 102.04, a PEG ratio of 6.09 and a beta of 1.24. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The stock's fifty day moving average is $21.88 and its two-hundred day moving average is $23.32.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating 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%. As a group, analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.
Acadia Realty Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.37%. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust's dividend payout ratio (DPR) is presently 444.44%.
Insiders Place Their Bets
In other news, EVP Jason Blacksberg sold 30,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was 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 is available through the SEC website. 2.83% of the stock is owned by corporate insiders.
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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