Acadia Realty Trust (NYSE:AKR) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 746,011 shares of the real estate investment trust’s stock after selling 8,280 shares during the quarter. Fisher Asset Management LLC owned about 0.62% of Acadia Realty Trust worth $18,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC raised its stake in Acadia Realty Trust by 290.3% during the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock worth $224,910,000 after acquiring an additional 7,124,403 shares in the last quarter. Geode Capital Management LLC increased its stake in Acadia Realty Trust by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after purchasing an additional 63,672 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Acadia Realty Trust by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust’s stock valued at $45,331,000 after purchasing an additional 83,180 shares during the period. Bank of New York Mellon Corp increased its stake in Acadia Realty Trust by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,110,758 shares of the real estate investment trust’s stock valued at $26,836,000 after purchasing an additional 56,614 shares during the period. Finally, Barclays PLC increased its stake in Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after purchasing an additional 81,853 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on AKR shares. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Truist Financial lifted their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Acadia Realty Trust presently has an average rating of “Hold” and a consensus target price of $23.00.

Acadia Realty Trust Stock Down 1.3 %

Shares of NYSE:AKR opened at $22.77 on Tuesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 126.50, a PEG ratio of 6.09 and a beta of 1.46. The firm’s 50-day simple moving average is $23.27 and its 200-day simple moving average is $23.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. As a group, equities research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.20 dividend. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.51%. Acadia Realty Trust’s payout ratio is presently 444.44%.

About Acadia Realty Trust

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.