Wells Fargo & Company MN Raises Stake in Acadia Realty Trust (NYSE:AKR)

Wells Fargo & Company MN raised its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 39.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 76,646 shares of the real estate investment trust's stock after acquiring an additional 21,688 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Acadia Realty Trust worth $1,852,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in shares of Acadia Realty Trust during the fourth quarter worth approximately $297,000. KBC Group NV grew 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 worth $114,000 after purchasing an additional 1,448 shares in the last quarter. Barclays PLC lifted its position 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 worth $18,240,000 after purchasing an additional 81,853 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Acadia Realty Trust during the fourth quarter valued at approximately $552,000. Finally, Yousif Capital Management LLC lifted its position in shares of Acadia Realty Trust by 10.7% during the 4th quarter. Yousif Capital Management LLC now owns 45,038 shares of the real estate investment trust's stock worth $1,088,000 after buying an additional 4,341 shares during the last quarter. Institutional investors own 97.65% of the company's stock.

Insider Buying and Selling at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. 2.79% of the stock is currently owned by insiders.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR traded up $0.51 during trading on Thursday, hitting $19.61. The company's stock had a trading volume of 146,995 shares, compared to its average volume of 1,045,092. The company has a 50-day moving average of $20.66 and a 200-day moving average of $22.94. 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 12 month low of $16.14 and a 12 month high of $26.29. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 108.54, a P/E/G ratio of 6.09 and a beta of 1.24.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. 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 previous year, the firm earned $0.33 EPS. Acadia Realty Trust's revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.08%. This is an increase from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 31st. Acadia Realty Trust's dividend payout ratio (DPR) is presently 444.44%.

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 target price on the stock in a research report on Thursday, April 10th.

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.