Northern Trust Corp Buys 832,794 Shares of Acadia Realty Trust (NYSE:AKR)

Northern Trust Corp grew its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 73.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972,104 shares of the real estate investment trust's stock after buying an additional 832,794 shares during the quarter. Northern Trust Corp owned approximately 1.65% of Acadia Realty Trust worth $47,646,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. FMR LLC grew its position in shares of Acadia Realty Trust by 21.3% in the 4th quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust's stock valued at $280,757,000 after acquiring an additional 2,041,986 shares during the period. Vanguard Group Inc. raised its stake in Acadia Realty Trust by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock valued at $437,230,000 after buying an additional 1,459,448 shares during the period. Marshall Wace LLP lifted its position in shares of Acadia Realty Trust by 94.6% in the fourth quarter. Marshall Wace LLP now owns 1,496,532 shares of the real estate investment trust's stock valued at $36,156,000 after buying an additional 727,392 shares during the last quarter. Norges Bank bought a new position in shares of Acadia Realty Trust during the 4th quarter worth approximately $8,439,000. Finally, Geode Capital Management LLC increased its holdings in shares of Acadia Realty Trust by 11.7% during the 4th quarter. Geode Capital Management LLC now owns 2,949,612 shares of the real estate investment trust's stock worth $71,278,000 after acquiring an additional 308,117 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the business'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 value of $684,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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.

Acadia Realty Trust Price Performance

Shares of AKR stock traded up $0.99 on Monday, hitting $20.59. 1,685,433 shares of the company's stock were exchanged, compared to its average volume of 1,064,439. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. Acadia Realty Trust has a 12 month low of $16.14 and a 12 month high of $26.29. The stock has a market cap of $2.70 billion, a P/E ratio of 114.37, a price-to-earnings-growth ratio of 6.09 and a beta of 1.39. The company has a 50 day moving average of $20.17 and a 200 day moving average of $22.68.

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, beating the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. The firm had revenue of $104.39 million during the quarter, compared to the consensus estimate of $86.99 million. During the same period last year, the company earned $0.33 earnings per share. The business's quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Monday, June 30th. Acadia Realty Trust's payout ratio is 500.00%.

Acadia Realty Trust Company Profile

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.