Zurcher Kantonalbank Zurich Cantonalbank Purchases 39,860 Shares of Acadia Realty Trust (NYSE:AKR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 55.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,247 shares of the real estate investment trust's stock after buying an additional 39,860 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Acadia Realty Trust worth $2,712,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AKR. Amundi raised its stake 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 valued at $6,479,000 after purchasing an additional 208,933 shares during the period. Edgestream Partners L.P. acquired a new position in Acadia Realty Trust during the fourth quarter valued at $3,322,000. Inceptionr LLC purchased a new stake in Acadia Realty Trust in the 4th quarter worth about $491,000. Arizona State Retirement System boosted its position in Acadia Realty Trust by 2.9% during the 4th quarter. Arizona State Retirement System now owns 30,568 shares of the real estate investment trust's stock worth $739,000 after acquiring an additional 857 shares during the period. Finally, Victory Capital Management Inc. grew its position in Acadia Realty Trust by 16.0% during the fourth quarter. Victory Capital Management Inc. now owns 164,826 shares of the real estate investment trust's stock valued at $3,982,000 after purchasing an additional 22,757 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company's stock.

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Insider Transactions at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the firm's stock in a transaction dated 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. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AKR. StockNews.com downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. Truist Financial upped their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $23.00.

Acadia Realty Trust Trading Up 1.6 %

AKR traded up $0.34 during midday trading on Wednesday, reaching $21.62. 382,031 shares of the company were exchanged, compared to its average volume of 1,089,129. The stock has a market capitalization of $2.59 billion, a P/E ratio of 120.08, a PEG ratio of 6.09 and a beta of 1.49. The stock's 50-day simple moving average is $22.84 and its 200 day simple moving average is $23.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. Acadia Realty Trust has a one year low of $16.13 and a one year high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (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%. As a group, analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This is an increase 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 annualized dividend and a yield of 3.70%. Acadia Realty Trust's dividend payout ratio (DPR) is currently 444.44%.

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.