Deprince Race & Zollo Inc. Purchases New Position in Acadia Realty Trust (NYSE:AKR)

Deprince Race & Zollo Inc. bought a new position in Acadia Realty Trust (NYSE:AKR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,370,330 shares of the real estate investment trust's stock, valued at approximately $33,107,000. Deprince Race & Zollo Inc. owned approximately 1.15% of Acadia Realty Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AKR. Smartleaf Asset Management LLC lifted its holdings in shares of Acadia Realty Trust by 91.3% during 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. Sterling Capital Management LLC raised its holdings in shares of Acadia Realty Trust by 960.9% during 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 period. USA Financial Formulas grew its position in 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 in the last quarter. KBC Group NV lifted its holdings in shares of Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Xponance Inc. purchased a new position in shares of Acadia Realty Trust during the fourth quarter valued at $203,000. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

AKR stock traded down $0.33 during midday trading on Tuesday, hitting $20.25. 494,004 shares of the company traded hands, compared to its average volume of 1,062,263. 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 business has a 50 day simple moving average of $20.12 and a 200-day simple moving average of $22.66. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 112.50, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39. 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 quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $104.39 million for the quarter, compared to the consensus estimate of $86.99 million. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. The firm's revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. As a group, equities research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.20 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.95%. Acadia Realty Trust's dividend payout ratio is currently 500.00%.

Insider Transactions at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the business's 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upgraded Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a research note on Thursday, April 10th.

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.