FMR LLC increased its position in Acadia Realty Trust (NYSE:AKR - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,620,757 shares of the real estate investment trust's stock after purchasing an additional 2,041,986 shares during the period. FMR LLC owned approximately 9.71% of Acadia Realty Trust worth $280,757,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Jane Street Group LLC grew its holdings in shares of Acadia Realty Trust by 3.6% during the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust's stock valued at $2,358,000 after buying an additional 3,453 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Acadia Realty Trust by 3.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 136,456 shares of the real estate investment trust's stock valued at $3,204,000 after purchasing an additional 5,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Acadia Realty Trust by 2.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 151,650 shares of the real estate investment trust's stock worth $3,561,000 after purchasing an additional 4,086 shares in the last quarter. Barclays PLC raised its stake in shares of Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust's stock worth $18,240,000 after purchasing an additional 81,853 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Acadia Realty Trust by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust's stock valued at $62,033,000 after purchasing an additional 63,672 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.
Acadia Realty Trust Stock Performance
Shares of Acadia Realty Trust stock traded up $0.30 during mid-day trading on Thursday, hitting $19.60. 207,056 shares of the stock were exchanged, compared to its average volume of 1,046,396. Acadia Realty Trust has a 12 month low of $16.14 and a 12 month high of $26.29. The company has a 50-day simple moving average of $21.46 and a 200 day simple moving average of $23.17. The company has a market capitalization of $2.35 billion, a P/E ratio of 109.12, a P/E/G ratio of 6.09 and a beta of 1.24. 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 quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Sell-side analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.
Acadia Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.08%. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 31st. Acadia Realty Trust's payout ratio is presently 444.44%.
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 for the company in a report on Thursday, April 10th.
Check Out Our Latest Stock Analysis on AKR
Insider Transactions at Acadia Realty Trust
In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is currently owned by company insiders.
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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