Acadia Realty Trust (NYSE:AKR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,692 shares of the real estate investment trust's stock after selling 13,134 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Acadia Realty Trust worth $7,473,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in Acadia Realty Trust by 91.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 717 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Acadia Realty Trust in the fourth quarter valued at about $46,000. Sterling Capital Management LLC raised its stake in Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 3,344 shares during the last quarter. Sandia Investment Management LP acquired a new position in shares of Acadia Realty Trust in the fourth quarter valued at about $121,000. Finally, Xponance Inc. acquired a new position in shares of Acadia Realty Trust in the fourth quarter valued at about $203,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock traded down $0.37 during midday trading on Friday, hitting $19.29. 1,193,711 shares of the company were exchanged, compared to its average volume of 1,086,845. The firm has a market capitalization of $2.53 billion, a PE ratio of 107.17, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $26.29. The business has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $21.77. 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 (NYSE:AKR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $104.39 million for the quarter, compared to analyst estimates of $86.99 million. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Acadia Realty Trust's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, June 30th. Acadia Realty Trust's payout ratio is currently 500.00%.

Analyst Upgrades and Downgrades

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 report on Thursday, April 10th.

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.