Acadia Realty Trust (NYSE:AKR - Get Free Report) CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the transaction, the chief financial officer now directly owns 7,600 shares of the company's stock, valued at approximately $128,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Acadia Realty Trust Stock Performance
Shares of NYSE AKR opened at $17.16 on Wednesday. Acadia Realty Trust has a 12-month low of $12.37 and a 12-month high of $17.90. The company has a market cap of $1.77 billion, a PE ratio of 214.50, a P/E/G ratio of 11.30 and a beta of 1.41. The stock has a 50 day simple moving average of $16.80 and a 200-day simple moving average of $16.35. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.27). The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $69.75 million. Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. On average, equities research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current year.
Acadia Realty Trust Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 4.20%. Acadia Realty Trust's dividend payout ratio is presently 900.00%.
Institutional Trading of Acadia Realty Trust
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. increased its stake in shares of Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 2,152 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Acadia Realty Trust during the 1st quarter valued at $58,000. GAMMA Investing LLC acquired a new position in shares of Acadia Realty Trust during the 4th quarter valued at $61,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth $174,000. Finally, Jump Financial LLC acquired a new stake in shares of Acadia Realty Trust in the third quarter valued at $185,000. 97.65% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Bank of America raised shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Friday, April 5th. Truist Financial cut Acadia Realty Trust from a "buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.50.
Check Out Our Latest Research Report on AKR
Acadia Realty Trust Company Profile
(
Get Free Report)
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.
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