Richard Hartmann Sells 25,000 Shares of Acadia Realty Trust (NYSE:AKR) Stock

Acadia Realty Trust (NYSE:AKR) VP Richard Hartmann sold 25,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $16.85 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 210.63, a PEG 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. The firm has a 50 day moving average price of $16.80 and a 200 day moving average price of $16.36.

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 the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The company had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm 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. This represents a $0.72 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Friday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in 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 objective for the company. in a research report on Tuesday, January 16th. Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $20.00 in a research note on Friday, April 5th. One equities research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Institutional Investors Weigh In On Acadia Realty Trust

Several institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Acadia Realty Trust by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,627,993 shares of the real estate investment trust’s stock worth $23,362,000 after purchasing an additional 67,141 shares in the last quarter. Vanguard Group Inc. grew its position in Acadia Realty Trust by 0.8% in the third quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock valued at $223,316,000 after acquiring an additional 118,807 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Acadia Realty Trust during the third quarter valued at approximately $781,000. Graham Capital Management L.P. boosted its stake in shares of Acadia Realty Trust by 238.7% in the third quarter. Graham Capital Management L.P. now owns 46,341 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 32,659 shares during the period. Finally, Natixis Advisors L.P. grew its holdings in Acadia Realty Trust by 5.0% during the 3rd quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 997 shares in the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

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.