Victory Capital Management Inc. Grows Stock Position in Acadia Realty Trust (NYSE:AKR)

Victory Capital Management Inc. grew its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 164,826 shares of the real estate investment trust's stock after purchasing an additional 22,757 shares during the period. Victory Capital Management Inc. owned about 0.14% of Acadia Realty Trust worth $3,982,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in shares of Acadia Realty Trust by 3.6% in the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust's stock valued at $2,358,000 after acquiring an additional 3,453 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Acadia Realty Trust in the third quarter valued at approximately $202,000. Contravisory Investment Management Inc. bought a new position in shares of Acadia Realty Trust in the fourth quarter valued at approximately $297,000. KBC Group NV grew its holdings in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 1,448 shares during the period. Finally, Barclays PLC grew its holdings in Acadia Realty Trust by 11.8% during the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust's stock valued at $18,240,000 after purchasing an additional 81,853 shares during the period. 97.65% of the stock is owned by institutional investors.

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Acadia Realty Trust Price Performance

NYSE:AKR traded up $0.46 during trading hours on Wednesday, hitting $21.74. 274,878 shares of the company's stock traded hands, compared to its average volume of 996,325. The firm has a market cap of $2.60 billion, a P/E ratio of 120.44, a P/E/G ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a 52 week low of $16.13 and a 52 week high of $26.29. The business's fifty day simple moving average is $22.84 and its two-hundred day simple moving average is $23.65. 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 (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, beating 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%. On average, research analysts anticipate 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. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 3.68%. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's payout ratio is 444.44%.

Insiders Place Their Bets

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial increased their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, December 5th. StockNews.com lowered 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 company's stock. Based on data from MarketBeat, Acadia Realty Trust presently has a consensus rating of "Hold" and an average price target of $23.00.

Acadia Realty Trust Company Profile

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.