Invesco Ltd. boosted its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,029,208 shares of the real estate investment trust's stock after purchasing an additional 154,174 shares during the period. Invesco Ltd. owned approximately 0.86% of Acadia Realty Trust worth $24,866,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in shares of Acadia Realty Trust by 22.8% during the fourth quarter. Bank of Montreal Can now owns 14,772 shares of the real estate investment trust's stock valued at $357,000 after purchasing an additional 2,738 shares during the period. FMR LLC boosted its stake in shares of Acadia Realty Trust by 21.3% during the 4th quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust's stock valued at $280,757,000 after buying an additional 2,041,986 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Acadia Realty Trust by 1,097.7% in the fourth quarter. Russell Investments Group Ltd. now owns 148,658 shares of the real estate investment trust's stock worth $3,592,000 after buying an additional 136,246 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Acadia Realty Trust by 39.5% in the fourth quarter. Wells Fargo & Company MN now owns 76,646 shares of the real estate investment trust's stock valued at $1,852,000 after acquiring an additional 21,688 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in Acadia Realty Trust during the 4th quarter valued at $1,139,000. 97.65% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.83% of the company's stock.
Analyst Ratings Changes
Separately, Truist Financial raised shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research report on Thursday, April 10th.
Read Our Latest Research Report on AKR
Acadia Realty Trust Stock Down 0.4 %
Shares of Acadia Realty Trust stock traded down $0.08 during midday trading on Wednesday, hitting $19.73. The company's stock had a trading volume of 263,740 shares, compared to its average volume of 1,045,494. The stock has a 50-day simple moving average of $21.13 and a 200-day simple moving average of $23.08. 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 firm has a market capitalization of $2.36 billion, a P/E ratio of 109.51, 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.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 31st. 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 yield of 4.05%. Acadia Realty Trust's dividend payout ratio is presently 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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