Cohen & Steers Inc. Sells 400,878 Shares of Acadia Realty Trust (NYSE:AKR)

Cohen & Steers Inc. trimmed its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,490,308 shares of the real estate investment trust's stock after selling 400,878 shares during the period. Acadia Realty Trust makes up 0.8% of Cohen & Steers Inc.'s investment portfolio, making the stock its 27th largest holding. Cohen & Steers Inc. owned about 15.45% of Acadia Realty Trust worth $446,726,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. FMR LLC lifted its position in Acadia Realty Trust by 21.3% in the 4th quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust's stock valued at $280,757,000 after acquiring an additional 2,041,986 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Acadia Realty Trust by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock worth $437,230,000 after buying an additional 1,459,448 shares in the last quarter. Norges Bank bought a new position in shares of Acadia Realty Trust in the fourth quarter valued at approximately $8,439,000. Geode Capital Management LLC lifted its holdings in Acadia Realty Trust by 11.7% during the fourth quarter. Geode Capital Management LLC now owns 2,949,612 shares of the real estate investment trust's stock worth $71,278,000 after acquiring an additional 308,117 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Acadia Realty Trust by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock valued at $51,958,000 after purchasing an additional 219,983 shares during the period. Institutional investors and hedge funds own 97.65% of the company's stock.

Analyst Ratings Changes

Separately, Truist Financial raised shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Thursday, April 10th.

Acadia Realty Trust Stock Performance

AKR traded up $0.62 on Friday, hitting $19.92. The company's stock had a trading volume of 1,033,575 shares, compared to its average volume of 1,050,661. 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 $2.39 billion, a P/E ratio of 110.64, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The company's 50 day simple moving average is $21.32 and its 200-day simple moving average is $23.12.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, March 31st. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's dividend payout ratio is 444.44%.

Insiders Place Their Bets

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 value of $684,300.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.83% of the company's stock.

Acadia Realty Trust 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.