BROOKFIELD Corp ON cut its holdings in shares of Acadia Realty Trust (NYSE:AKR – Free Report) by 44.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,528 shares of the real estate investment trust’s stock after selling 304,073 shares during the period. BROOKFIELD Corp ON owned about 0.29% of Acadia Realty Trust worth $7,314,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of AKR. Osaic Holdings Inc. lifted its stake in shares of Acadia Realty Trust by 32.8% in the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 547 shares in the last quarter. Danske Bank A S grew its stake in Acadia Realty Trust by 600.0% during the 4th quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 1,800 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Acadia Realty Trust during the 2nd quarter worth approximately $47,000. EverSource Wealth Advisors LLC increased its holdings in Acadia Realty Trust by 342.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Acadia Realty Trust by 62,000.0% in the 4th quarter. Covestor Ltd now owns 3,726 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 3,720 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.
Acadia Realty Trust Stock Down 0.1%
Shares of NYSE:AKR opened at $22.37 on Monday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 74.56 and a beta of 1.10. Acadia Realty Trust has a 1-year low of $18.14 and a 1-year high of $22.90. The company’s fifty day moving average is $21.73 and its two-hundred day moving average is $20.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.17 and a current ratio of 1.17.
Acadia Realty Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. Acadia Realty Trust’s dividend payout ratio is 266.67%.
Wall Street Analyst Weigh In
AKR has been the subject of several research analyst reports. Truist Financial increased their target price on Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of Acadia Realty Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. KeyCorp reaffirmed a “sector weight” rating on shares of Acadia Realty Trust in a report on Monday, June 15th. Wall Street Zen raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, LADENBURG THALM/SH SH raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.
Insider Buying and Selling at Acadia Realty Trust
In other news, EVP Reginald Livingston sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.12, for a total transaction of $553,000.00. Following the sale, the executive vice president directly owned 9,426 shares in the company, valued at approximately $208,503.12. This represents a 72.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.11% of the company’s stock.
About Acadia Realty Trust
Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.
Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.
Further Reading
- Five stocks we like better than Acadia Realty Trust
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Want to see what other hedge funds are holding AKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acadia Realty Trust (NYSE:AKR – Free Report).
Receive News & Ratings for Acadia Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acadia Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.
