172,374 Shares in Acadia Realty Trust (NYSE:AKR) Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 172,374 shares of the real estate investment trust's stock, valued at approximately $4,165,000. Great Lakes Advisors LLC owned 0.14% of Acadia Realty Trust at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKR. Crossmark Global Holdings Inc. purchased a new stake in shares of Acadia Realty Trust in the third quarter valued at about $202,000. Wolverine Asset Management LLC purchased a new position in shares of Acadia Realty Trust during the third quarter valued at approximately $267,000. GSA Capital Partners LLP purchased a new position in shares of Acadia Realty Trust during the third quarter valued at approximately $849,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Acadia Realty Trust by 3.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 114,905 shares of the real estate investment trust's stock valued at $2,698,000 after buying an additional 3,842 shares during the period. Finally, Metis Global Partners LLC purchased a new position in shares of Acadia Realty Trust during the third quarter valued at approximately $255,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 transaction of $684,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.83% of the company's stock.

Remove Ads

Analyst Ratings Changes

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

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded up $0.34 during midday trading on Wednesday, hitting $21.62. The company's stock had a trading volume of 651,255 shares, compared to its average volume of 1,096,366. Acadia Realty Trust has a 1-year low of $16.13 and a 1-year high of $26.29. The firm's fifty day moving average price is $22.84 and its 200-day moving average price is $23.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $2.59 billion, a P/E ratio of 120.08, a P/E/G ratio of 6.09 and a beta of 1.49.

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 (EPS) for the quarter, beating 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%. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. This is an increase from Acadia Realty Trust's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust's payout ratio is presently 444.44%.

Acadia Realty Trust 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.