Jacobs Levy Equity Management Inc. Sells 154,563 Shares of Acadia Realty Trust (NYSE:AKR)

Jacobs Levy Equity Management Inc. cut its position in shares of Acadia Realty Trust (NYSE:AKR) by 83.5% during the 4th quarter, HoldingsChannel reports. The firm owned 30,607 shares of the real estate investment trust’s stock after selling 154,563 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Acadia Realty Trust were worth $739,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 717 shares in the last quarter. Sterling Capital Management LLC raised its stake in Acadia Realty Trust by 960.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 3,344 shares during the last quarter. KBC Group NV raised its stake in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,448 shares during the last quarter. Xponance Inc. purchased a new position in Acadia Realty Trust during the fourth quarter valued at $203,000. Finally, Longboard Asset Management LP purchased a new position in Acadia Realty Trust during the fourth quarter valued at $213,000. 97.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Truist Financial upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, April 10th.

Acadia Realty Trust Stock Up 0.8%

Shares of NYSE:AKR opened at $20.27 on Friday. The stock has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $22.55. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 112.59, a PEG ratio of 6.09 and a beta of 1.39. Acadia Realty Trust has a 12-month low of $16.14 and a 12-month high of $26.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. The firm had revenue of $104.39 million during the quarter, compared to analysts’ expectations of $86.99 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Monday, June 30th. Acadia Realty Trust’s dividend payout ratio is currently 500.00%.

Insider Transactions at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.83% of the company’s stock.

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 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.