Intech Investment Management LLC increased its position in Acadia Realty Trust (NYSE:AKR - Free Report) by 68.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 45,267 shares of the real estate investment trust's stock after acquiring an additional 18,422 shares during the quarter. Intech Investment Management LLC's holdings in Acadia Realty Trust were worth $1,094,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in 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 worth $36,000 after purchasing an additional 717 shares in the last quarter. USA Financial Formulas grew its stake in Acadia Realty Trust by 14.4% in the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 489 shares in the last quarter. KBC Group NV raised its holdings in 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 valued at $114,000 after acquiring an additional 1,448 shares during the period. Longboard Asset Management LP purchased a new stake in shares of Acadia Realty Trust during the fourth quarter worth $213,000. Finally, Cibc World Markets Corp bought a new position in shares of Acadia Realty Trust in the fourth quarter worth $265,000. 97.65% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Truist Financial increased their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. StockNews.com lowered shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of "Hold" and an average price target of $23.00.
Get Our Latest Stock Report on AKR
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 value of $684,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.
Acadia Realty Trust Price Performance
Shares of AKR stock traded down $0.03 during trading on Tuesday, hitting $21.46. The company had a trading volume of 127,953 shares, compared to its average volume of 1,089,959. Acadia Realty Trust has a 52 week low of $16.13 and a 52 week high of $26.29. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 119.22, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average is $22.75 and its two-hundred day moving average is $23.62.
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 earnings per share (EPS) 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, analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.
Acadia Realty Trust Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.73%. 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 dividend payout ratio (DPR) is currently 444.44%.
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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