JPMorgan Chase & Co. reduced its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 807,550 shares of the real estate investment trust's stock after selling 16,458 shares during the quarter. JPMorgan Chase & Co. owned about 0.67% of Acadia Realty Trust worth $19,510,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Acadia Realty Trust by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock worth $437,230,000 after buying an additional 1,459,448 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Acadia Realty Trust by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock worth $51,958,000 after acquiring an additional 219,983 shares during the last quarter. Amundi lifted its position in Acadia Realty Trust by 278.1% during the 4th quarter. Amundi now owns 284,052 shares of the real estate investment trust's stock worth $6,479,000 after acquiring an additional 208,933 shares during the period. Burkehill Global Management LP purchased a new stake in Acadia Realty Trust during the 4th quarter valued at about $4,832,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of Acadia Realty Trust in the fourth quarter valued at about $4,165,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.
Acadia Realty Trust Stock Performance
NYSE:AKR traded up $0.03 during mid-day trading on Tuesday, hitting $18.92. The company's stock had a trading volume of 221,062 shares, compared to its average volume of 1,116,825. The business's fifty day moving average is $21.63 and its two-hundred day moving average is $23.23. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 105.11, a PEG ratio of 6.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. 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 earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping 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%. Analysts anticipate 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. Stockholders of record on Monday, March 31st will be paid 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 of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.23%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 444.44%.
Insider Activity
In related news, EVP Jason Blacksberg sold 30,000 shares of the firm's 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 document filed with the SEC, which is available at this link. Insiders own 2.83% of the company's stock.
Analyst Ratings Changes
Separately, Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a report on Thursday, April 10th.
View Our Latest Stock Analysis on Acadia Realty Trust
Acadia Realty Trust Profile
(
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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