Nuveen Asset Management LLC lessened its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 271,041 shares of the real estate investment trust's stock after selling 92,121 shares during the quarter. Nuveen Asset Management LLC owned about 0.23% of Acadia Realty Trust worth $6,548,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Acadia Realty Trust by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock valued at $437,230,000 after purchasing an additional 1,459,448 shares during the last quarter. FMR LLC raised 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 purchasing an additional 2,041,986 shares during the last quarter. Geode Capital Management LLC raised its position in Acadia Realty Trust by 11.7% in the 4th quarter. Geode Capital Management LLC now owns 2,949,612 shares of the real estate investment trust's stock valued at $71,278,000 after purchasing an additional 308,117 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 last quarter. Finally, Northern Trust Corp raised its position in Acadia Realty Trust by 73.1% in the 4th quarter. Northern Trust Corp now owns 1,972,104 shares of the real estate investment trust's stock valued at $47,646,000 after purchasing an additional 832,794 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company's stock.
Acadia Realty Trust Stock Performance
AKR traded down $0.04 during trading on Wednesday, hitting $19.23. The stock had a trading volume of 629,404 shares, compared to its average volume of 1,072,249. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $2.52 billion, a P/E ratio of 106.83, a PEG ratio of 6.09 and a beta of 1.39. The company's 50-day moving average price is $19.43 and its 200 day moving average price is $22.07. Acadia Realty Trust has a twelve month low of $16.53 and a twelve month high of $26.29.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced 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 company 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%. Acadia Realty Trust's revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. On average, equities research analysts forecast 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 500.00%.
Insider Transactions at Acadia Realty Trust
In other news, EVP Jason Blacksberg sold 30,000 shares of the company's 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.83% of the company's stock.
Analysts Set New Price Targets
Separately, Truist Financial upgraded shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a research report on Thursday, April 10th.
Check Out Our Latest Stock Report on Acadia Realty Trust
Acadia Realty Trust Profile
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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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