New Age Alpha Advisors LLC bought a new position in Acadia Realty Trust (NYSE:AKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,469 shares of the real estate investment trust's stock, valued at approximately $374,000.
A number of other institutional investors also recently modified their holdings of the stock. 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 acquiring an additional 717 shares during the last quarter. USA Financial Formulas increased its position 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 worth $94,000 after purchasing an additional 489 shares during the last quarter. KBC Group NV raised its stake in shares of 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 worth $114,000 after purchasing an additional 1,448 shares in the last quarter. Xponance Inc. acquired a new stake in shares of Acadia Realty Trust during the 4th quarter valued at about $203,000. Finally, Longboard Asset Management LP bought a new position in Acadia Realty Trust during the fourth quarter valued at approximately $213,000. Institutional investors and hedge funds own 97.65% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Truist Financial decreased their target price on shares of Acadia Realty Trust from $25.00 to $23.00 and set a "hold" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $22.00.
Get Our Latest Analysis on AKR
Insider Activity
In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.83% of the company's stock.
Acadia Realty Trust Stock Performance
Shares of AKR stock traded down $1.70 during trading hours on Thursday, reaching $19.49. 912,873 shares of the company's stock were exchanged, compared to its average volume of 1,055,159. The business has a fifty day moving average price of $22.49 and a 200-day moving average price of $23.51. The stock has a market capitalization of $2.33 billion, a P/E ratio of 108.25, a P/E/G 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. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share 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%. Analysts predict 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust's payout ratio is 444.44%.
Acadia Realty Trust Company Profile
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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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