US Bancorp DE raised its stake in Acadia Realty Trust (NYSE:AKR) by 13.8% in the second quarter, HoldingsChannel.com reports. The firm owned 19,648 shares of the real estate investment trust’s stock after acquiring an additional 2,387 shares during the period. US Bancorp DE’s holdings in Acadia Realty Trust were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in Acadia Realty Trust by 2.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,074,338 shares of the real estate investment trust’s stock valued at $29,405,000 after acquiring an additional 28,376 shares in the last quarter. Russell Investments Group Ltd. increased its position in Acadia Realty Trust by 787.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 485,904 shares of the real estate investment trust’s stock valued at $13,317,000 after acquiring an additional 431,132 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Acadia Realty Trust by 172.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,531 shares of the real estate investment trust’s stock valued at $589,000 after acquiring an additional 13,630 shares in the last quarter. Sei Investments Co. grew its position in shares of Acadia Realty Trust by 35,882.0% during the 2nd quarter. Sei Investments Co. now owns 240,000 shares of the real estate investment trust’s stock worth $6,568,000 after buying an additional 239,333 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter worth approximately $472,000.
In other news, insider Joseph Napolitano sold 4,500 shares of Acadia Realty Trust stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $28.51, for a total transaction of $128,295.00. Following the completion of the sale, the insider now owns 4,618 shares in the company, valued at approximately $131,659.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wendy W. Luscombe sold 2,204 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $28.12, for a total transaction of $61,976.48. Following the sale, the director now owns 40,198 shares of the company’s stock, valued at approximately $1,130,367.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,606 shares of company stock valued at $273,014. 2.15% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Citigroup lifted their price target on shares of Acadia Realty Trust from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Acadia Realty Trust currently has a consensus rating of “Hold” and an average price target of $31.00.
Shares of NYSE:AKR opened at $28.67 on Friday. Acadia Realty Trust has a one year low of $21.34 and a one year high of $30.63. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.33 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.38 and a beta of 0.35.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.24). Acadia Realty Trust had a return on equity of 2.25% and a net margin of 19.11%. The business had revenue of $63.60 million for the quarter, compared to analyst estimates of $48.00 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. equities research analysts forecast that Acadia Realty Trust will post 1.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, September 27th. Acadia Realty Trust’s dividend payout ratio is 71.52%.
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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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