Amundi Pioneer Asset Management Inc. grew its holdings in Acadia Realty Trust (NYSE:AKR) by 68.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,798 shares of the real estate investment trust’s stock after buying an additional 52,098 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.15% of Acadia Realty Trust worth $3,496,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of AKR. JPMorgan Chase & Co. increased its position in shares of Acadia Realty Trust by 385.2% in the third quarter. JPMorgan Chase & Co. now owns 1,579,408 shares of the real estate investment trust’s stock valued at $45,377,000 after buying an additional 1,253,864 shares in the last quarter. BlackRock Inc. increased its position in shares of Acadia Realty Trust by 7.1% in the fourth quarter. BlackRock Inc. now owns 13,097,046 shares of the real estate investment trust’s stock valued at $358,335,000 after buying an additional 872,787 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Acadia Realty Trust by 361.4% in the fourth quarter. Citadel Advisors LLC now owns 774,116 shares of the real estate investment trust’s stock valued at $21,179,000 after buying an additional 606,346 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Acadia Realty Trust by 176.3% during the third quarter. Wells Fargo & Company MN now owns 374,263 shares of the real estate investment trust’s stock worth $10,712,000 after purchasing an additional 238,806 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Acadia Realty Trust by 307.3% during the third quarter. Nationwide Fund Advisors now owns 213,321 shares of the real estate investment trust’s stock worth $6,105,000 after purchasing an additional 160,941 shares in the last quarter.
AKR has been the subject of several research reports. Citigroup dropped their price target on Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Boenning Scattergood set a $35.00 price target on Acadia Realty Trust and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $32.75.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.08). Acadia Realty Trust had a return on equity of 2.81% and a net margin of 24.56%. The firm had revenue of $66.08 million for the quarter, compared to analysts’ expectations of $50.00 million. analysts predict that Acadia Realty Trust will post 1.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Wednesday, March 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 150.00%.
Acadia Realty Trust declared that its board has authorized a share buyback program on Wednesday, February 21st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Acadia Realty Trust news, insider Joseph Napolitano sold 14,626 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $25.26, for a total transaction of $369,452.76. Following the transaction, the insider now owns 14,744 shares of the company’s stock, valued at $372,433.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.74% of the company’s stock.
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Acadia Realty Trust Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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