Ameriprise Financial Inc. Reduces Stock Position in Acadia Realty Trust (NYSE:AKR)

Ameriprise Financial Inc. reduced its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,174 shares of the real estate investment trust's stock after selling 25,289 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Acadia Realty Trust worth $6,920,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. FMR LLC increased its stake in shares of Acadia Realty Trust by 21.3% during the fourth quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust's stock valued at $280,757,000 after buying an additional 2,041,986 shares during the period. Vanguard Group Inc. grew its stake in Acadia Realty Trust by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock worth $437,230,000 after purchasing an additional 1,459,448 shares during the period. Northern Trust Corp grew its stake in shares of Acadia Realty Trust by 73.1% in the fourth quarter. Northern Trust Corp now owns 1,972,104 shares of the real estate investment trust's stock worth $47,646,000 after acquiring an additional 832,794 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Acadia Realty Trust by 94.6% in the fourth quarter. Marshall Wace LLP now owns 1,496,532 shares of the real estate investment trust's stock worth $36,156,000 after acquiring an additional 727,392 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Acadia Realty Trust in the fourth quarter worth $8,439,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised 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 Stock Performance

Shares of NYSE AKR traded up $0.44 during trading on Tuesday, hitting $19.45. The company had a trading volume of 281,858 shares, compared to its average volume of 1,069,759. The stock has a 50 day simple moving average of $19.70 and a 200 day simple moving average of $22.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current 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 capitalization of $2.55 billion, a P/E ratio of 107.97, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39.

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 (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 quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. As a group, analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Monday, June 30th. Acadia Realty Trust's dividend payout ratio (DPR) is presently 500.00%.

Insider Activity at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the firm'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 transaction of $684,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is owned by corporate insiders.

About Acadia Realty Trust

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.