Mercer Global Advisors Inc. ADV purchased a new position in Acadia Realty Trust (NYSE:AKR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,640 shares of the real estate investment trust's stock, valued at approximately $378,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings 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. Sterling Capital Management LLC boosted its holdings in Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 3,344 shares during the last quarter. USA Financial Formulas grew its holdings in shares of Acadia Realty Trust by 14.4% during 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 period. KBC Group NV lifted its holdings 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 valued at $114,000 after acquiring an additional 1,448 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 currently owned by hedge funds and other institutional investors.
Acadia Realty Trust Stock Performance
Shares of AKR traded down $0.17 during trading hours on Tuesday, reaching $19.96. 47,986 shares of the company's stock traded hands, compared to its average volume of 1,065,798. The business's fifty day simple moving average is $19.92 and its two-hundred day simple moving average is $22.50. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 110.62, a P/E/G ratio of 6.09 and a beta of 1.39. 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 twelve month low of $16.14 and a twelve month high of $26.29.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. The company had revenue of $104.39 million for the quarter, compared to the consensus estimate of $86.99 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm's quarterly revenue was up 14.2% on a year-over-year basis. Analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.01%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 500.00%.
Analysts Set New Price Targets
Separately, Truist Financial raised shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research report on Thursday, April 10th.
Get Our Latest Analysis on AKR
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 stock was sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.83% of the stock is owned by corporate insiders.
Acadia Realty Trust 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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