CANADA LIFE ASSURANCE Co boosted its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,205 shares of the real estate investment trust's stock after buying an additional 29,969 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.22% of Acadia Realty Trust worth $6,406,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AKR. USA Financial Formulas increased 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 acquiring an additional 489 shares during the last quarter. Monument Capital Management increased its holdings in shares of Acadia Realty Trust by 3.7% in the fourth quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust's stock valued at $335,000 after purchasing an additional 489 shares during the last quarter. Smartleaf Asset Management LLC increased 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 valued at $36,000 after purchasing an additional 717 shares during the last quarter. Arizona State Retirement System raised its position in shares of Acadia Realty Trust by 2.9% in the fourth quarter. Arizona State Retirement System now owns 30,568 shares of the real estate investment trust's stock valued at $739,000 after purchasing an additional 857 shares during the period. Finally, Mariner LLC lifted its stake in shares of Acadia Realty Trust by 2.5% during the 4th quarter. Mariner LLC now owns 44,221 shares of the real estate investment trust's stock worth $1,068,000 after buying an additional 1,080 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.
Acadia Realty Trust Stock Performance
Shares of AKR traded up $0.19 during midday trading on Monday, reaching $19.79. 786,887 shares of the stock were exchanged, compared to its average volume of 1,048,581. The stock's 50 day simple moving average is $20.81 and its 200 day simple moving average is $22.99. The company has a market cap of $2.37 billion, a P/E ratio of 109.94, a PEG ratio of 6.09 and a beta of 1.24. Acadia Realty Trust has a twelve month low of $16.14 and a twelve month high of $26.29. 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 released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping 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%. 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 declared 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 yield of 4.04%. This is a positive change 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 currently 444.44%.
Insider Buying and Selling
In related 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 transaction of $684,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.83% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Separately, Truist Financial raised shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a report on Thursday, April 10th.
View Our Latest Research Report on AKR
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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