Price T Rowe Associates Inc. MD Sells 47,115 Shares of Acadia Realty Trust (NYSE:AKR)

Price T Rowe Associates Inc. MD reduced its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,828,875 shares of the real estate investment trust's stock after selling 47,115 shares during the quarter. Price T Rowe Associates Inc. MD owned about 7.38% of Acadia Realty Trust worth $213,307,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Acadia Realty Trust by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock valued at $437,230,000 after purchasing an additional 1,459,448 shares in the last quarter. FMR LLC lifted its holdings in shares of Acadia Realty Trust by 21.3% during 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 purchasing an additional 2,041,986 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $71,278,000 after purchasing an additional 308,117 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Acadia Realty Trust by 11.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock valued at $51,958,000 after purchasing an additional 219,983 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Acadia Realty Trust by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,575,874 shares of the real estate investment trust's stock valued at $38,073,000 after purchasing an additional 109,116 shares in the last quarter. Institutional investors own 97.65% of the company's stock.

Insider Buying and Selling at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 2.79% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a research report on Thursday, April 10th.

Acadia Realty Trust Stock Up 1.7 %

AKR traded up $0.32 during trading hours on Thursday, hitting $19.42. 278,832 shares of the company's stock were exchanged, compared to its average volume of 1,045,608. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The stock's 50-day moving average is $20.66 and its two-hundred day moving average is $22.94. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 107.72, a PEG ratio of 6.09 and a beta of 1.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced 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. The firm had revenue of $104.39 million during the quarter, compared to analysts' expectations of $86.99 million. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. Sell-side analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.12%. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's dividend payout ratio (DPR) is currently 444.44%.

Acadia Realty Trust 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.