Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Acadia Realty Trust (NYSE:AKR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Acadia Realty Trust (NYSE:AKR) by 55.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 112,247 shares of the real estate investment trust’s stock after acquiring an additional 39,860 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Acadia Realty Trust worth $2,712,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Amundi increased its position in Acadia Realty Trust by 278.1% during the fourth quarter. Amundi now owns 284,052 shares of the real estate investment trust’s stock valued at $6,479,000 after acquiring an additional 208,933 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Acadia Realty Trust during the fourth quarter valued at about $3,322,000. Inceptionr LLC bought a new stake in Acadia Realty Trust during the fourth quarter valued at about $491,000. Arizona State Retirement System grew its holdings in Acadia Realty Trust by 2.9% during the fourth quarter. Arizona State Retirement System now owns 30,568 shares of the real estate investment trust’s stock valued at $739,000 after purchasing an additional 857 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Acadia Realty Trust by 16.0% during the fourth quarter. Victory Capital Management Inc. now owns 164,826 shares of the real estate investment trust’s stock valued at $3,982,000 after purchasing an additional 22,757 shares during the period. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Insiders Place Their Bets

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 value of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AKR shares. Truist Financial boosted their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One investment 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.com, Acadia Realty Trust presently has an average rating of “Hold” and an average target price of $23.00.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $21.33 on Friday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 118.47, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $22.91 and a 200-day moving average price of $23.66. Acadia Realty Trust has a twelve month low of $16.13 and a twelve month high of $26.29.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 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.