Bank of New York Mellon Corp Raises Position in Acadia Realty Trust (NYSE:AKR)

Bank of New York Mellon Corp raised its position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,110,758 shares of the real estate investment trust's stock after purchasing an additional 56,614 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.93% of Acadia Realty Trust worth $26,836,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AKR. Jane Street Group LLC boosted its position 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 valued at $2,358,000 after purchasing an additional 3,453 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Acadia Realty Trust in the third quarter valued at approximately $202,000. Contravisory Investment Management Inc. acquired a new stake in shares of Acadia Realty Trust during the 4th quarter worth approximately $297,000. KBC Group NV increased its stake in shares of Acadia Realty Trust by 44.1% in the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock valued at $114,000 after acquiring an additional 1,448 shares in the last quarter. Finally, Barclays PLC lifted its position 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 valued at $18,240,000 after acquiring an additional 81,853 shares during the period. Institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Stock Down 0.6 %

AKR traded down $0.14 during trading on Wednesday, hitting $21.57. 869,147 shares of the company's stock were exchanged, compared to its average volume of 1,067,040. The stock has a market cap of $2.58 billion, a P/E ratio of 119.86, a PEG ratio of 6.09 and a beta of 1.49. The business's 50 day moving average is $23.08 and its two-hundred day moving average is $23.69. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61.

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Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. As a group, equities analysts expect 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 announced 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 a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.71%. Acadia Realty Trust's payout ratio is presently 444.44%.

Insider Buying and Selling

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AKR shares. StockNews.com cut shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. Truist Financial raised their target price on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of "Hold" and an average target price of $23.00.

Acadia Realty Trust Company Profile

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.