Vanguard Group Inc. Reduces Stock Position in Acadia Realty Trust (NYSE:AKR)

Vanguard Group Inc. reduced its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,490,684 shares of the real estate investment trust’s stock after selling 71,388 shares during the period. Vanguard Group Inc. owned 0.15% of Acadia Realty Trust worth $263,187,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cohen & Steers Inc. raised its holdings in Acadia Realty Trust by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock valued at $268,273,000 after acquiring an additional 776,121 shares in the last quarter. Norges Bank acquired a new stake in shares of Acadia Realty Trust in the 4th quarter valued at about $10,414,000. Price T Rowe Associates Inc. MD lifted its position in shares of Acadia Realty Trust by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock worth $143,741,000 after purchasing an additional 223,215 shares during the last quarter. Tudor Investment Corp Et Al acquired a new position in Acadia Realty Trust in the third quarter worth about $2,984,000. Finally, GSA Capital Partners LLP bought a new stake in Acadia Realty Trust in the third quarter valued at about $2,297,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Up 1.2 %

NYSE:AKR opened at $17.92 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average of $17.15 and a 200-day moving average of $16.95. The firm has a market capitalization of $1.85 billion, a PE ratio of 224.00, a price-to-earnings-growth ratio of 4.72 and a beta of 1.44. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $17.97.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. Acadia Realty Trust’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. Analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.72 annualized dividend and a yield of 4.02%. Acadia Realty Trust’s dividend payout ratio is presently 900.00%.

Insider Activity at Acadia Realty Trust

In other news, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now owns 7,600 shares of the company’s stock, valued at $128,364. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now directly owns 7,600 shares in the company, valued at $128,364. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Hartmann sold 25,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on AKR shares. JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Wednesday, June 26th. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $20.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Acadia Realty Trust has a consensus rating of “Hold” and an average target price of $18.40.

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.