Lazard Asset Management LLC Buys New Shares in Acadia Realty Trust (NYSE:AKR)

Lazard Asset Management LLC acquired a new position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 49,079 shares of the real estate investment trust's stock, valued at approximately $1,185,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AKR. FMR LLC raised its holdings in shares of 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 worth $280,757,000 after purchasing an additional 2,041,986 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Acadia Realty Trust during the fourth quarter worth approximately $38,508,000. Vanguard Group Inc. grew its stake in Acadia Realty Trust by 8.8% during 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 buying an additional 1,459,448 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in Acadia Realty Trust during the fourth quarter worth approximately $33,107,000. Finally, Northern Trust Corp grew its stake in Acadia Realty Trust by 73.1% during 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 buying an additional 832,794 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Acadia Realty Trust Trading Down 0.8%

NYSE AKR opened at $20.13 on Tuesday. The company's fifty day simple moving average is $19.92 and its 200-day simple moving average is $22.50. Acadia Realty Trust has a 52 week low of $16.14 and a 52 week high of $26.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.64 billion, a P/E ratio of 111.83, a PEG ratio of 6.09 and a beta of 1.39.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted 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 firm had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. Equities research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 3.97%. Acadia Realty Trust's dividend payout ratio is presently 500.00%.

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.

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