Acadia Realty Trust (NYSE:AKR) VP Sells 25,000 Shares

Acadia Realty Trust (NYSE:AKR) VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR opened at $16.85 on Thursday. The firm has a fifty day moving average price of $16.80 and a 200-day moving average price of $16.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $1.74 billion, a PE ratio of 210.63, a price-to-earnings-growth ratio of 11.30 and a beta of 1.41. Acadia Realty Trust has a 1 year low of $12.37 and a 1 year high of $17.90.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.27%. Acadia Realty Trust’s dividend payout ratio is 900.00%.

Hedge Funds Weigh In On Acadia Realty Trust

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AKR shares. Truist Financial lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Tuesday, January 16th. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.00 to $20.00 in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acadia Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $18.50.

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.