Acadia Realty Trust (NYSE:AKR) Sees Large Decline in Short Interest

Acadia Realty Trust (NYSE:AKR) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 5,610,000 shares, a drop of 61.9% from the March 15th total of 14,720,000 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 4.9 days. Currently, 4.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Thursday, April 10th.

Insider Activity at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.83% of the stock is owned by corporate insiders.

Institutional Trading of Acadia Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. USA Financial Formulas grew its position in shares of Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 489 shares during the period. Monument Capital Management grew its holdings in Acadia Realty Trust by 3.7% in the 4th quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 489 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Acadia Realty Trust by 91.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 717 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Acadia Realty Trust by 2.1% during the 4th quarter. Captrust Financial Advisors now owns 34,877 shares of the real estate investment trust’s stock worth $843,000 after acquiring an additional 731 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Acadia Realty Trust by 1.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 57,510 shares of the real estate investment trust’s stock worth $1,389,000 after acquiring an additional 764 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Trading Up 1.1 %

NYSE:AKR opened at $18.90 on Tuesday. Acadia Realty Trust has a 1 year low of $16.14 and a 1 year high of $26.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $21.63 and a two-hundred day moving average price of $23.23. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 105.00, a PEG ratio of 6.09 and a beta of 1.24.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.23%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio is presently 444.44%.

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.