UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 735,423 shares of the real estate investment trust's stock after buying an additional 78,628 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.61% of Acadia Realty Trust worth $17,768,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Monument Capital Management increased its stake in shares of Acadia Realty Trust by 3.7% in the 4th quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust's stock worth $335,000 after purchasing an additional 489 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of 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 in the last quarter. Captrust Financial Advisors increased its stake in shares of Acadia Realty Trust by 2.1% in the 4th quarter. Captrust Financial Advisors now owns 34,877 shares of the real estate investment trust's stock worth $843,000 after purchasing an additional 731 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Acadia Realty Trust by 1.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 57,510 shares of the real estate investment trust's stock worth $1,389,000 after purchasing an additional 764 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Acadia Realty Trust by 2.9% in the 4th quarter. Arizona State Retirement System now owns 30,568 shares of the real estate investment trust's stock worth $739,000 after purchasing an additional 857 shares in the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Truist Financial upgraded 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.
Read Our Latest Stock Analysis on AKR
Insider Buying and Selling
In other news, EVP Jason Blacksberg sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 is accessible through this link. 2.83% of the stock is currently owned by corporate insiders.
Acadia Realty Trust Price Performance
Shares of NYSE AKR traded down $0.26 during mid-day trading on Friday, hitting $19.25. 1,044,059 shares of the company's stock traded hands, compared to its average volume of 1,075,988. The company's 50-day moving average is $19.54 and its two-hundred day moving average is $22.18. 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 capitalization of $2.52 billion, a P/E ratio of 106.94, a PEG ratio of 6.09 and a beta of 1.39. Acadia Realty Trust has a 1 year low of $16.53 and a 1 year high of $26.29.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its 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 business's revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, equities analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.
Acadia Realty Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, June 30th. Acadia Realty Trust's dividend payout ratio is 500.00%.
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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