First Trust Advisors LP raised its position in Acadia Realty Trust (NYSE:AKR) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 66,208 shares of the real estate investment trust’s stock after buying an additional 4,150 shares during the period. First Trust Advisors LP owned 0.09% of Acadia Realty Trust worth $2,352,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Pioneer Investment Management Inc. boosted its stake in Acadia Realty Trust by 0.5% in the fourth quarter. Pioneer Investment Management Inc. now owns 102,600 shares of the real estate investment trust’s stock worth $3,401,000 after buying an additional 500 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Acadia Realty Trust by 5.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 39,670 shares of the real estate investment trust’s stock worth $1,315,000 after buying an additional 2,190 shares in the last quarter. Aperio Group LLC boosted its stake in Acadia Realty Trust by 21.8% in the first quarter. Aperio Group LLC now owns 21,401 shares of the real estate investment trust’s stock worth $752,000 after buying an additional 3,827 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Acadia Realty Trust by 1.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,891 shares of the real estate investment trust’s stock worth $734,000 after buying an additional 325 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Acadia Realty Trust by 12.2% in the first quarter. BlackRock Inc. now owns 68,884 shares of the real estate investment trust’s stock worth $2,420,000 after buying an additional 7,466 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.
Acadia Realty Trust (NYSE:AKR) traded up 2.47% during midday trading on Thursday, hitting $36.97. The stock had a trading volume of 396,303 shares. The stock has a market cap of $2.80 billion, a PE ratio of 38.23 and a beta of 0.74. Acadia Realty Trust has a one year low of $29.53 and a one year high of $38.01. The firm has a 50 day moving average price of $36.35 and a 200 day moving average price of $35.15.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $51.30 million for the quarter, compared to the consensus estimate of $40.51 million. Acadia Realty Trust had a net margin of 32.18% and a return on equity of 4.32%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. Equities analysts expect that Acadia Realty Trust will post $1.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.70%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 103.09%.
AKR has been the topic of a number of research reports. Boenning Scattergood restated an “outperform” rating and issued a $38.00 price target on shares of Acadia Realty Trust in a report on Tuesday, June 28th. Zacks Investment Research cut Acadia Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. Citigroup Inc. upped their price target on Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a report on Friday, August 12th. BTIG Research assumed coverage on Acadia Realty Trust in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets reiterated a “buy” rating and set a $40.00 target price on shares of Acadia Realty Trust in a report on Wednesday, July 27th. One 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. Acadia Realty Trust presently has an average rating of “Hold” and a consensus target price of $40.10.
In related news, Director William T. Spitz sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $37.25, for a total transaction of $372,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joel L. Braun sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $37.60, for a total value of $827,200.00. Following the sale, the insider now directly owns 24,109 shares in the company, valued at approximately $906,498.40. The disclosure for this sale can be found here. Insiders own 2.22% of the company’s stock.
About Acadia Realty Trust
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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