Acadia Realty Trust (NYSE:AKR) insider Joseph Napolitano sold 14,626 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $25.26, for a total transaction of $369,452.76. Following the completion of the transaction, the insider now owns 14,744 shares in the company, valued at $372,433.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Acadia Realty Trust (AKR) traded down $0.30 during trading on Wednesday, reaching $24.50. 800,606 shares of the company’s stock were exchanged, compared to its average volume of 801,586. Acadia Realty Trust has a 12 month low of $21.34 and a 12 month high of $32.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $2,092.54, a price-to-earnings ratio of 34.15, a PEG ratio of 2.03 and a beta of 0.46.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.08). Acadia Realty Trust had a net margin of 24.56% and a return on equity of 2.81%. The firm had revenue of $66.08 million during the quarter, compared to analysts’ expectations of $50.00 million. analysts predict that Acadia Realty Trust will post 1.39 EPS for the current year.
Acadia Realty Trust announced that its Board of Directors has approved a share buyback plan on Wednesday, February 21st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Wednesday, March 28th. Acadia Realty Trust’s dividend payout ratio is presently 150.00%.
Large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of Acadia Realty Trust by 72.2% in the 2nd quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 2,775 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $236,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $247,000. CIBC Asset Management Inc purchased a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $277,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $331,000.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup reduced their target price on shares of Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Boenning Scattergood reiterated a “buy” rating on shares of Acadia Realty Trust in a report on Friday, February 23rd. Finally, KeyCorp lowered shares of Acadia Realty Trust from an “overweight” rating to a “hold” rating in a report on Monday, November 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.75.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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