Acadia Realty Trust (NYSE:AKR) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a research report released on Monday morning, Zacks.com reports.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

Shares of NYSE:AKR opened at $19.90 on Monday. Acadia Realty Trust has a 12-month low of $13.48 and a 12-month high of $23.33. The stock has a market cap of $1.76 billion, a PE ratio of 181.56, a P/E/G ratio of 2.74 and a beta of 1.42. The business has a 50 day moving average of $21.90 and a 200-day moving average of $21.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.83.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Friday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, December 30th. Acadia Realty Trust’s dividend payout ratio is presently 545.50%.

In other news, VP Jason Blacksberg sold 1,500 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $23.20, for a total value of $34,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lorrence T. Kellar sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $20.72, for a total transaction of $51,800.00. Following the transaction, the director now owns 47,861 shares of the company’s stock, valued at $991,679.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,000 shares of company stock valued at $223,460. Corporate insiders own 2.68% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AKR. Prudential Financial Inc. boosted its position in Acadia Realty Trust by 42.5% during the second quarter. Prudential Financial Inc. now owns 2,257,979 shares of the real estate investment trust’s stock valued at $49,585,000 after acquiring an additional 673,302 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Acadia Realty Trust by 151.2% during the second quarter. William Blair Investment Management LLC now owns 1,007,667 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 606,587 shares during the period. Bank of Montreal Can raised its holdings in shares of Acadia Realty Trust by 2,082.1% during the second quarter. Bank of Montreal Can now owns 496,971 shares of the real estate investment trust’s stock valued at $11,037,000 after purchasing an additional 474,196 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Acadia Realty Trust by 22.4% during the third quarter. Cohen & Steers Inc. now owns 2,076,824 shares of the real estate investment trust’s stock valued at $42,388,000 after purchasing an additional 379,929 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Acadia Realty Trust by 140.3% during the second quarter. Morgan Stanley now owns 547,968 shares of the real estate investment trust’s stock valued at $12,033,000 after purchasing an additional 319,974 shares during the period. 99.98% of the stock is currently owned by institutional investors and hedge funds.

About Acadia Realty Trust

Acadia Realty Trust is a real estate investment trust, which engages in delivering operating platforms and investment strategy. It operates through the following business segments: Core Portfolio, Funds, and Structured Financing. The Core Portfolio segment consists of retail properties. The Funds segment handles retail real estate.

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