Prudential Financial Inc. Decreases Stake in Acadia Realty Trust (NYSE:AKR)

Prudential Financial Inc. lessened its stake in shares of Acadia Realty Trust (NYSE:AKR) by 53.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,670 shares of the real estate investment trust’s stock after selling 258,005 shares during the quarter. Prudential Financial Inc. owned approximately 0.18% of Acadia Realty Trust worth $5,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its position in Acadia Realty Trust by 290.3% during the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after buying an additional 7,124,403 shares during the period. Vanguard Group Inc. raised its stake in shares of Acadia Realty Trust by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust’s stock valued at $437,230,000 after acquiring an additional 1,459,448 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Acadia Realty Trust by 381.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock valued at $15,422,000 after acquiring an additional 520,319 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Acadia Realty Trust by 11.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust’s stock worth $51,958,000 after purchasing an additional 219,983 shares during the period. Finally, Amundi grew its stake in shares of Acadia Realty Trust by 278.1% in the fourth quarter. Amundi now owns 284,052 shares of the real estate investment trust’s stock worth $6,479,000 after purchasing an additional 208,933 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Insider Buying and Selling

In other news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock opened at $20.96 on Tuesday. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29. The stock’s 50 day simple moving average is $22.61 and its two-hundred day simple moving average is $23.57. 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 stock has a market cap of $2.51 billion, a price-to-earnings ratio of 116.42, a PEG ratio of 6.09 and a beta of 1.49.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. As a group, analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 444.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AKR shares. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial raised their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.00.

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.