Northern Trust Corp grew its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 73.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972,104 shares of the real estate investment trust's stock after purchasing an additional 832,794 shares during the quarter. Northern Trust Corp owned 1.65% of Acadia Realty Trust worth $47,646,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in 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 valued at $36,000 after purchasing an additional 717 shares during the last quarter. Sterling Capital Management LLC grew its position 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 acquiring an additional 3,344 shares during the last quarter. USA Financial Formulas grew its position in shares of Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock worth $94,000 after acquiring an additional 489 shares during the last quarter. KBC Group NV grew its position in shares of Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock worth $114,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Xponance Inc. bought a new position in shares of Acadia Realty Trust during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 97.65% of the company's stock.
Insiders Place Their Bets
In other Acadia Realty Trust 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 transaction of $684,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.83% of the company's stock.
Acadia Realty Trust Price Performance
Shares of NYSE:AKR traded down $0.32 on Wednesday, hitting $19.91. The stock had a trading volume of 160,466 shares, compared to its average volume of 1,063,653. Acadia Realty Trust has a twelve month low of $16.14 and a twelve month high of $26.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The firm's 50 day moving average price is $20.08 and its 200-day moving average price is $22.64. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 110.61, 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 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 net margin of 5.74% and a return on equity of 0.88%. The company had revenue of $104.39 million for the quarter, compared to the consensus estimate of $86.99 million. During the same quarter in the previous year, the company earned $0.33 EPS. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 4.02%. Acadia Realty Trust's dividend payout ratio is currently 500.00%.
Analysts Set New Price Targets
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 report on Thursday, April 10th.
View Our Latest Report on AKR
Acadia Realty Trust Profile
(
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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