Acadia Realty Trust (NYSE:AKR) VP Sells $427,500.00 in Stock

Acadia Realty Trust (NYSE:AKR) VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total value of $427,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Acadia Realty Trust Price Performance

NYSE AKR traded up $0.26 during trading hours on Tuesday, hitting $17.15. 472,045 shares of the company’s stock traded hands, compared to its average volume of 1,162,922. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.90. The company has a market capitalization of $1.77 billion, a PE ratio of 211.00, a PEG ratio of 11.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average is $16.79 and its 200-day moving average is $16.33.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.27). The firm had revenue of $91.36 million during the quarter, compared to analyst estimates of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Equities analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Friday, June 28th. Acadia Realty Trust’s payout ratio is currently 900.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Easterly Investment Partners LLC acquired a new stake in shares of Acadia Realty Trust during the first quarter worth $18,139,000. Cohen & Steers Inc. increased its holdings in shares of Acadia Realty Trust by 5.2% in the 4th quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares during the period. Norges Bank acquired a new position in Acadia Realty Trust during the 4th quarter valued at about $10,414,000. Price T Rowe Associates Inc. MD grew its holdings in Acadia Realty Trust by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock worth $143,741,000 after buying an additional 223,215 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in Acadia Realty Trust during the 3rd quarter valued at $2,984,000. 97.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AKR has been the topic of a number of recent analyst reports. Truist Financial downgraded shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research note on Tuesday, January 16th. Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

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.