Teachers Insurance & Annuity Association of America lowered its stake in shares of Acadia Realty Trust (NYSE:AKR) by 60.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,461 shares of the real estate investment trust’s stock after selling 45,049 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Acadia Realty Trust were worth $806,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AKR. Redpoint Investment Management Pty Ltd acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter valued at $201,000. Everence Capital Management Inc. acquired a new stake in shares of Acadia Realty Trust in the 1st quarter valued at $256,000. Bank of Montreal Can lifted its stake in shares of Acadia Realty Trust by 251.6% in the 2nd quarter. Bank of Montreal Can now owns 9,747 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 6,975 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Acadia Realty Trust by 33.9% in the 1st quarter. SG Americas Securities LLC now owns 12,205 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 3,090 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Acadia Realty Trust by 7.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 13,941 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 1,000 shares during the last quarter.
Several equities research analysts recently issued reports on the stock. Citigroup set a $30.00 price objective on shares of Acadia Realty Trust and gave the company a “hold” rating in a research note on Monday, May 20th. ValuEngine lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Compass Point assumed coverage on shares of Acadia Realty Trust in a research note on Thursday, August 15th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Acadia Realty Trust currently has a consensus rating of “Hold” and an average price target of $31.00.
Shares of AKR stock traded up $0.01 on Thursday, hitting $29.00. The company’s stock had a trading volume of 468,904 shares, compared to its average volume of 450,699. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.53 and a quick ratio of 0.53. Acadia Realty Trust has a fifty-two week low of $23.11 and a fifty-two week high of $29.82. The firm’s fifty day moving average price is $27.75 and its 200-day moving average price is $27.86. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 3.62 and a beta of 0.69.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. Acadia Realty Trust had a net margin of 13.32% and a return on equity of 1.78%. The business had revenue of $71.10 million during the quarter, compared to analyst estimates of $57.31 million. During the same quarter in the previous year, the business earned $0.09 EPS. Acadia Realty Trust’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts predict that Acadia Realty Trust will post 1.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, September 27th. Acadia Realty Trust’s dividend payout ratio is 82.96%.
In other Acadia Realty Trust news, CFO John J. Gottfried sold 30,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.78, for a total transaction of $833,400.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $833,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.47% of the stock is owned by insiders.
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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