Mason Street Advisors LLC bought a new position in shares of Acadia Realty Trust (NYSE:AKR) during the second quarter, according to its most recent filing with the SEC. The firm bought 13,999 shares of the real estate investment trust’s stock, valued at approximately $497,000.
A number of other hedge funds also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Acadia Realty Trust during the second quarter valued at $109,000. PNC Financial Services Group Inc. boosted its position in Acadia Realty Trust by 792.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,480 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 3,090 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in Acadia Realty Trust by 2.6% in the first quarter. BlackRock Japan Co. Ltd now owns 3,701 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 94 shares during the last quarter. Bank of Montreal Can bought a new position in Acadia Realty Trust during the second quarter worth $135,000. Finally, Tower Research Capital LLC TRC bought a new position in Acadia Realty Trust during the second quarter worth $145,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.
Shares of Acadia Realty Trust (NYSE:AKR) opened at 34.98 on Wednesday. The company’s 50-day moving average is $36.33 and its 200-day moving average is $35.31. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 36.17 and a beta of 0.67. Acadia Realty Trust has a 12-month low of $30.25 and a 12-month high of $38.01.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $51.30 million for the quarter, compared to the consensus estimate of $40.51 million. Acadia Realty Trust had a net margin of 32.18% and a return on equity of 4.32%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. Equities research analysts predict that Acadia Realty Trust will post $1.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. Acadia Realty Trust’s dividend payout ratio is currently 103.09%.
A number of analysts recently commented on the stock. Citigroup Inc. upped their price target on shares of Acadia Realty Trust from $40.50 to $41.50 and gave the company a “buy” rating in a research note on Friday, August 12th. BMO Capital Markets restated a “buy” rating and set a $40.00 price target on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 6th. BTIG Research assumed coverage on shares of Acadia Realty Trust in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, Boenning Scattergood restated an “outperform” rating and set a $38.00 price target on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.10.
In other news, Director Lee S. Wielansky sold 12,000 shares of Acadia Realty Trust stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $37.03, for a total value of $444,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joel L. Braun sold 22,000 shares of Acadia Realty Trust stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $37.60, for a total transaction of $827,200.00. Following the completion of the sale, the insider now owns 24,109 shares of the company’s stock, valued at $906,498.40. The disclosure for this sale can be found here. Company insiders own 2.22% of the company’s stock.
Acadia Realty Trust Company Profile
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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