Teachers Insurance & Annuity Association of America cut its position in Acadia Realty Trust (NYSE:AKR) by 32.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,510 shares of the real estate investment trust’s stock after selling 36,252 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Acadia Realty Trust were worth $2,031,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Acadia Realty Trust in the third quarter valued at about $3,397,000. Oregon Public Employees Retirement Fund bought a new position in shares of Acadia Realty Trust in the fourth quarter worth about $31,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Acadia Realty Trust by 8.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,192 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 1,100 shares during the last quarter. Honeywell International Inc. raised its stake in shares of Acadia Realty Trust by 30.5% in the first quarter. Honeywell International Inc. now owns 67,970 shares of the real estate investment trust’s stock worth $1,854,000 after acquiring an additional 15,900 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Acadia Realty Trust by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 1,287,426 shares of the real estate investment trust’s stock worth $36,086,000 after acquiring an additional 9,092 shares during the last quarter.
Shares of AKR traded up $0.10 on Tuesday, reaching $28.43. 5,139 shares of the company’s stock were exchanged, compared to its average volume of 502,746. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 3.37 and a beta of 0.73. Acadia Realty Trust has a 12 month low of $23.11 and a 12 month high of $29.82.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, June 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is 82.96%.
AKR has been the subject of a number of research analyst reports. ValuEngine raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th.
In related news, insider Christopher Conlon sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.06, for a total transaction of $280,600.00. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at $420,900. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jason Blacksberg sold 2,096 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $29.50, for a total transaction of $61,832.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,670 shares of company stock valued at $727,188. 2.47% of the stock is currently owned by insiders.
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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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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