Bank of America Corp DE lifted its position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 281,151 shares of the real estate investment trust's stock after acquiring an additional 76,394 shares during the period. Bank of America Corp DE owned approximately 0.23% of Acadia Realty Trust worth $6,793,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of 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 valued at $18,240,000 after purchasing an additional 81,853 shares in the last quarter. SG Americas Securities LLC grew its stake in Acadia Realty Trust by 27.7% during the fourth quarter. SG Americas Securities LLC now owns 38,378 shares of the real estate investment trust's stock valued at $927,000 after acquiring an additional 8,322 shares in the last quarter. KBC Group NV lifted its position in Acadia Realty Trust by 44.1% during 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 during the last quarter. abrdn plc lifted its holdings in shares of Acadia Realty Trust by 83.1% in the 4th quarter. abrdn plc now owns 39,438 shares of the real estate investment trust's stock worth $946,000 after acquiring an additional 17,903 shares during the last quarter. Finally, Longboard Asset Management LP bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth approximately $213,000. Institutional investors own 97.65% of the company's stock.
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.
Check Out Our Latest Analysis on Acadia Realty Trust
Acadia Realty Trust Stock Down 1.3%
Acadia Realty Trust stock traded down $0.26 during trading hours on Friday, reaching $19.25. The stock had a trading volume of 1,044,059 shares, compared to its average volume of 1,075,916. Acadia Realty Trust has a 52 week low of $16.53 and a 52 week high of $26.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 106.94, a PEG ratio of 6.09 and a beta of 1.39. The business's 50 day moving average price is $19.54 and its 200-day moving average price is $22.18.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $104.39 million for the quarter, compared to the consensus estimate of $86.99 million. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. The company's revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Sell-side analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current year.
Acadia Realty Trust Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.16%. Acadia Realty Trust's dividend payout ratio is currently 500.00%.
Insiders Place Their Bets
In related news, EVP Jason Blacksberg sold 30,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value 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 corporate insiders.
Acadia Realty Trust Profile
(
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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