UBS Asset Management Americas Inc. increased its stake in Acadia Realty Trust (NYSE:AKR) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 115,543 shares of the real estate investment trust’s stock after buying an additional 12,859 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.15% of Acadia Realty Trust worth $4,104,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. AXA increased its position in Acadia Realty Trust by 4.6% in the first quarter. AXA now owns 149,505 shares of the real estate investment trust’s stock valued at $5,252,000 after buying an additional 6,577 shares during the period. State Street Corp increased its position in Acadia Realty Trust by 4.1% in the first quarter. State Street Corp now owns 2,296,308 shares of the real estate investment trust’s stock valued at $80,675,000 after buying an additional 89,859 shares during the period. M&T Bank Corp bought a new position in Acadia Realty Trust during the first quarter valued at approximately $237,000. Menta Capital LLC bought a new position in Acadia Realty Trust during the first quarter valued at approximately $977,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Acadia Realty Trust during the first quarter valued at approximately $177,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.
Acadia Realty Trust (NYSE:AKR) traded down 0.36% during trading on Friday, reaching $36.24. The company’s stock had a trading volume of 368,950 shares. The firm has a market capitalization of $2.74 billion, a P/E ratio of 37.48 and a beta of 0.74. Acadia Realty Trust has a one year low of $30.25 and a one year high of $38.01. The stock has a 50-day moving average of $36.39 and a 200 day moving average of $35.29.
Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. The company earned $51.30 million during the quarter, compared to analysts’ expectations of $40.51 million. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts predict that Acadia Realty Trust will post $1.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. Acadia Realty Trust’s payout ratio is 103.09%.
Several research firms have recently commented on AKR. BMO Capital Markets reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. Zacks Investment Research downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday. BTIG Research began coverage on Acadia Realty Trust in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Citigroup Inc. lifted their target price on Acadia Realty Trust from $40.50 to $41.50 and gave the company a “buy” rating in a research note on Friday, August 12th. Finally, Boenning Scattergood reissued an “outperform” rating and set a $38.00 target price on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Acadia Realty Trust presently has a consensus rating of “Hold” and an average price target of $40.10.
In related news, Director William T. Spitz sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $37.25, for a total value of $372,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lee S. Wielansky sold 12,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $37.03, for a total value of $444,360.00. The disclosure for this sale can be found here. 2.22% of the stock is owned by insiders.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.
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