Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Wednesday, August 10th. Stockholders of record on Friday, September 30th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, October 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, September 28th.
Shares of Acadia Realty Trust (NYSE:AKR) opened at 37.28 on Tuesday. The stock has a market capitalization of $2.82 billion, a PE ratio of 38.55 and a beta of 0.74. The stock’s 50 day moving average is $36.39 and its 200 day moving average is $35.24. Acadia Realty Trust has a 12 month low of $29.61 and a 12 month high of $38.01.
Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. The business had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $40.51 million. During the same period last year, the business earned $0.48 EPS. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts anticipate that Acadia Realty Trust will post $1.57 earnings per share for the current fiscal year.
In other news, Director Lee S. Wielansky sold 12,000 shares of Acadia Realty Trust stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $37.03, for a total value of $444,360.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joel L. Braun sold 22,000 shares of Acadia Realty Trust stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $37.60, for a total transaction of $827,200.00. Following the completion of the sale, the insider now owns 24,109 shares in the company, valued at approximately $906,498.40. The disclosure for this sale can be found here. 2.22% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Japan Co. Ltd raised its stake in shares of Acadia Realty Trust by 0.4% in the second quarter. BlackRock Japan Co. Ltd now owns 3,717 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 16 shares during the period. Paloma Partners Management Co bought a new stake in shares of Acadia Realty Trust during the second quarter valued at about $206,000. ProShare Advisors LLC raised its stake in shares of Acadia Realty Trust by 2.4% in the second quarter. ProShare Advisors LLC now owns 10,272 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 239 shares during the period. Hsbc Holdings PLC raised its stake in shares of Acadia Realty Trust by 3.9% in the second quarter. Hsbc Holdings PLC now owns 10,943 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 413 shares during the period. Finally, US Bancorp DE raised its stake in shares of Acadia Realty Trust by 22.5% in the second quarter. US Bancorp DE now owns 18,555 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 3,413 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.
Several brokerages recently issued reports on AKR. BMO Capital Markets reissued a “buy” rating and set a $40.00 target price on shares of Acadia Realty Trust in a report on Wednesday, July 27th. Zacks Investment Research cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. BTIG Research began coverage on shares of Acadia Realty Trust in a report on Thursday, August 25th. They set a “neutral” rating for the company. Citigroup Inc. raised their target price on shares of Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Acadia Realty Trust in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.10.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.
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