Acadia Realty Trust (NYSE:AKR) CFO John J. Gottfried Sells 12,500 Shares

Acadia Realty Trust (NYSE:AKR) CFO John J. Gottfried sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the transaction, the chief financial officer now directly owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $17.16 on Wednesday. The company has a market cap of $1.77 billion, a P/E ratio of 214.50, a PEG ratio of 11.30 and a beta of 1.41. The firm has a fifty day moving average price of $16.80 and a 200 day moving average price of $16.35. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Acadia Realty Trust has a 12 month low of $12.37 and a 12 month high of $17.90.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $69.75 million. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.72 annualized dividend and a yield of 4.20%. Acadia Realty Trust’s dividend payout ratio is currently 900.00%.

Analyst Upgrades and Downgrades

AKR has been the subject of a number of recent research reports. Truist Financial lowered Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Tuesday, January 16th. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and an average price target of $18.50.

Institutional Trading of Acadia Realty Trust

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. grew its position in shares of Acadia Realty Trust by 189.9% in the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 2,152 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Acadia Realty Trust in the 1st quarter valued at about $58,000. GAMMA Investing LLC acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth $61,000. Vanguard Personalized Indexing Management LLC purchased a new position in Acadia Realty Trust in the 4th quarter valued at $174,000. Finally, Jump Financial LLC acquired a new position in Acadia Realty Trust in the 3rd quarter valued at $185,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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 Portfolio 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 corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.