ProShare Advisors LLC grew its position in Acadia Realty Trust (NYSE:AKR - Free Report) by 64.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,360 shares of the real estate investment trust's stock after acquiring an additional 13,797 shares during the period. ProShare Advisors LLC's holdings in Acadia Realty Trust were worth $854,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Acadia Realty Trust by 91.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 717 shares during the last quarter. Sterling Capital Management LLC raised its position in Acadia Realty Trust by 960.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 3,344 shares during the last quarter. KBC Group NV raised its position in Acadia Realty Trust by 44.1% in the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock worth $114,000 after purchasing an additional 1,448 shares during the last quarter. Xponance Inc. bought a new position in Acadia Realty Trust in the 4th quarter worth approximately $203,000. Finally, Longboard Asset Management LP bought a new position in Acadia Realty Trust in the 4th quarter worth approximately $213,000. Institutional investors own 97.65% of the company's stock.
Insider Activity
In other news, EVP Jason Blacksberg sold 30,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is owned by company insiders.
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 objective for the company in a research report on Thursday, April 10th.
Read Our Latest Report on AKR
Acadia Realty Trust Trading Up 1.9%
Shares of Acadia Realty Trust stock traded up $0.36 on Thursday, hitting $19.44. 197,795 shares of the company's stock traded hands, compared to its average volume of 1,071,833. The firm's 50-day moving average price is $19.62 and its two-hundred day moving average price is $22.26. The stock has a market capitalization of $2.55 billion, a PE ratio of 108.11, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39. Acadia Realty Trust has a one year low of $16.14 and a one year 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.
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 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $104.39 million during 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 business's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, research analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.
Acadia Realty Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Monday, June 30th. Acadia Realty Trust's dividend payout ratio (DPR) is 500.00%.
About Acadia Realty Trust
(
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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