Eii Capital Management Inc. acquired a new position in shares of Acadia Realty Trust (NYSE:AKR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,995 shares of the real estate investment trust’s stock, valued at approximately $383,000.
Several other institutional investors and hedge funds also recently modified their holdings of AKR. Royal Bank of Canada raised its position in shares of Acadia Realty Trust by 72.2% during the second quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 2,775 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Acadia Realty Trust by 307.3% during the third quarter. Nationwide Fund Advisors now owns 213,321 shares of the real estate investment trust’s stock worth $6,105,000 after acquiring an additional 160,941 shares during the last quarter. First Trust Advisors LP raised its position in shares of Acadia Realty Trust by 25.3% during the third quarter. First Trust Advisors LP now owns 60,984 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 12,324 shares during the last quarter. Aperio Group LLC raised its position in shares of Acadia Realty Trust by 69.0% during the third quarter. Aperio Group LLC now owns 31,326 shares of the real estate investment trust’s stock worth $897,000 after acquiring an additional 12,791 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Acadia Realty Trust during the third quarter worth about $503,000.
Shares of Acadia Realty Trust (NYSE:AKR) opened at $24.48 on Tuesday. The firm has a market capitalization of $2,077.47, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.02 and a beta of 0.46. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.41. Acadia Realty Trust has a 1-year low of $21.34 and a 1-year high of $32.02.
Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.08). The business had revenue of $66.08 million during the quarter, compared to the consensus estimate of $50.00 million. Acadia Realty Trust had a return on equity of 2.81% and a net margin of 24.56%. equities analysts anticipate 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 shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.08 dividend on an annualized basis and a yield of 4.41%. Acadia Realty Trust’s payout ratio is currently 150.00%.
In other Acadia Realty Trust news, insider Joseph Napolitano sold 14,626 shares of Acadia Realty Trust stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $25.26, for a total value of $369,452.76. Following the completion of the sale, the insider now directly owns 14,744 shares in the company, valued at $372,433.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.74% of the company’s stock.
AKR has been the subject of a number of analyst reports. KeyCorp downgraded Acadia Realty Trust from an “overweight” rating to a “hold” rating in a research report on Monday, November 20th. Boenning Scattergood restated a “buy” rating on shares of Acadia Realty Trust in a research report on Friday, February 23rd. Citigroup lowered their price objective on Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.75.
TRADEMARK VIOLATION WARNING: This piece of content was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/03/20/eii-capital-management-inc-acquires-shares-of-13995-acadia-realty-trust-akr.html.
Acadia Realty Trust Profile
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.
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.