First Trust Advisors LP Sells 92,910 Shares of Acadia Realty Trust (NYSE:AKR)

First Trust Advisors LP cut its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 61.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,093 shares of the real estate investment trust's stock after selling 92,910 shares during the quarter. First Trust Advisors LP's holdings in Acadia Realty Trust were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AKR. Smartleaf Asset Management LLC grew its stake in shares of Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock worth $36,000 after buying an additional 717 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Acadia Realty Trust by 960.9% during the fourth 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. USA Financial Formulas increased its stake in shares of Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 489 shares during the period. KBC Group NV raised its holdings 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 valued at $114,000 after buying an additional 1,448 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in Acadia Realty Trust during the 4th quarter worth approximately $203,000. Institutional investors own 97.65% of the company's stock.

Analysts Set New Price Targets

Separately, Truist Financial raised 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 note on Thursday, April 10th.

Insider Transactions at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was 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 through this hyperlink. Insiders own 2.83% of the company's stock.

Acadia Realty Trust Trading Up 0.4 %

NYSE:AKR traded up $0.07 on Friday, reaching $19.60. 773,309 shares of the stock traded hands, compared to its average volume of 1,059,884. The company's 50 day moving average is $20.17 and its 200-day moving average is $22.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 108.89, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. The business had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The business's quarterly revenue was up 14.2% compared to the same quarter last year. Equities research 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, June 30th. Acadia Realty Trust's payout ratio is 500.00%.

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.