FJ Capital Management LLC cut its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 35.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,062 shares of the real estate investment trust's stock after selling 26,024 shares during the quarter. FJ Capital Management LLC's holdings in Acadia Realty Trust were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 717 shares during the period. Sterling Capital Management LLC increased its position in Acadia Realty Trust by 960.9% during the 4th 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 in the last quarter. USA Financial Formulas increased its position in Acadia Realty Trust by 14.4% during the 4th 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 in the last quarter. KBC Group NV increased its holdings in shares of 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 in the last quarter. Finally, Xponance Inc. bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth $203,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction that occurred on 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 filing with the SEC, which is available through this hyperlink. 2.83% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Separately, Truist Financial upgraded Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research note on Thursday, April 10th.
Check Out Our Latest Report on Acadia Realty Trust
Acadia Realty Trust Stock Performance
NYSE AKR traded up $0.99 on Monday, hitting $20.59. 1,685,433 shares of the company traded hands, compared to its average volume of 1,064,439. 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 52-week low of $16.14 and a 52-week high of $26.29. The business's 50 day moving average price is $20.12 and its 200-day moving average price is $22.66. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 114.37, a P/E/G ratio of 6.09 and a beta of 1.39.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last released 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. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. The firm had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. During the same quarter last year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. Equities analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 annualized dividend and a yield of 3.89%. Acadia Realty Trust's payout ratio is currently 500.00%.
Acadia Realty Trust Company 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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