Northern Trust Corp lowered its holdings in Acadia Realty Trust (NYSE:AKR) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,179,415 shares of the real estate investment trust’s stock after selling 45,612 shares during the period. Northern Trust Corp owned about 2.67% of Acadia Realty Trust worth $59,650,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of Acadia Realty Trust in the 2nd quarter worth approximately $297,000. Nuveen Asset Management LLC purchased a new position in shares of Acadia Realty Trust in the first quarter worth approximately $2,779,000. 6 Meridian purchased a new position in shares of Acadia Realty Trust in the second quarter worth approximately $710,000. Schwab Charles Investment Management Inc. increased its position in shares of Acadia Realty Trust by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,074,338 shares of the real estate investment trust’s stock worth $29,405,000 after acquiring an additional 28,376 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Acadia Realty Trust by 13.4% in the first quarter. Legal & General Group Plc now owns 986,240 shares of the real estate investment trust’s stock worth $24,274,000 after acquiring an additional 116,781 shares in the last quarter.
In related news, insider Richard Hartmann sold 2,203 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $28.51, for a total transaction of $62,807.53. Following the transaction, the insider now directly owns 444 shares of the company’s stock, valued at $12,658.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy W. Luscombe sold 2,204 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $28.12, for a total transaction of $61,976.48. Following the transaction, the director now directly owns 40,198 shares in the company, valued at $1,130,367.76. The disclosure for this sale can be found here. Insiders have sold 9,606 shares of company stock worth $273,014 over the last ninety days. 2.15% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. Citigroup lifted their target price 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. Zacks Investment Research downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, Bank of America lifted their target price on shares of Acadia Realty Trust from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.33.
Acadia Realty Trust stock opened at $28.20 on Tuesday. The company has a market capitalization of $2.28 billion, a PE ratio of 18.58, a PEG ratio of 2.33 and a beta of 0.33. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Acadia Realty Trust has a fifty-two week low of $21.34 and a fifty-two week high of $30.63.
Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, July 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.24). The firm had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $48.00 million. Acadia Realty Trust had a return on equity of 2.25% and a net margin of 19.11%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. On average, equities research analysts predict that Acadia Realty Trust will post 1.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, September 27th. Acadia Realty Trust’s payout ratio is presently 71.52%.
Acadia Realty Trust 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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