KLP Kapitalforvaltning AS acquired a new stake in Acadia Realty Trust (NYSE:AKR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 22,700 shares of the real estate investment trust's stock, valued at approximately $552,000.
Several other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in shares of Acadia Realty Trust in the fourth quarter valued at about $390,000. Quantbot Technologies LP acquired a new stake in Acadia Realty Trust in the fourth quarter valued at about $4,012,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Acadia Realty Trust by 57.4% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 63,373 shares of the real estate investment trust's stock valued at $1,531,000 after purchasing an additional 23,111 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Acadia Realty Trust by 13.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 40,295 shares of the real estate investment trust's stock valued at $974,000 after purchasing an additional 4,726 shares in the last quarter. Finally, Xponance Inc. acquired a new position in Acadia Realty Trust during the 4th quarter worth approximately $203,000. 97.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Truist Financial reduced their price target on Acadia Realty Trust from $25.00 to $23.00 and set a "hold" rating for the company in a report on Tuesday, April 1st.
Read Our Latest Stock Report on Acadia Realty Trust
Acadia Realty Trust Price Performance
AKR stock traded down $0.21 during trading on Monday, reaching $18.12. 1,800,405 shares of the company were exchanged, compared to its average volume of 1,060,598. 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 stock's 50 day moving average price is $22.28 and its 200 day moving average price is $23.46. Acadia Realty Trust has a 52-week low of $16.14 and a 52-week high of $26.29. The company has a market cap of $2.17 billion, a P/E ratio of 100.69, a PEG ratio of 6.09 and a beta of 1.24.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. As a group, analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.
Acadia Realty Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.20 dividend. 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 4.41%. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's dividend payout ratio (DPR) is currently 444.44%.
Insider Transactions at Acadia Realty Trust
In other news, EVP Jason Blacksberg sold 30,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.83% of the company's stock.
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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