Victory Capital Management Inc. Has $3.98 Million Position in Acadia Realty Trust (NYSE:AKR)

Victory Capital Management Inc. increased its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,826 shares of the real estate investment trust’s stock after acquiring an additional 22,757 shares during the quarter. Victory Capital Management Inc.’s holdings in Acadia Realty Trust were worth $3,982,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC increased its holdings in shares of Acadia Realty Trust by 290.3% during the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock worth $224,910,000 after acquiring an additional 7,124,403 shares during the last quarter. Geode Capital Management LLC grew its holdings in Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after buying an additional 63,672 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Acadia Realty Trust by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust’s stock valued at $51,958,000 after buying an additional 219,983 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Acadia Realty Trust by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,110,758 shares of the real estate investment trust’s stock valued at $26,836,000 after buying an additional 56,614 shares in the last quarter. Finally, Barclays PLC grew its holdings in Acadia Realty Trust by 11.8% in the 3rd quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after buying an additional 81,853 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

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

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating 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 analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust’s dividend payout ratio is presently 444.44%.

Insider Activity

In related news, EVP Jason Blacksberg sold 30,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AKR. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial upped their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.00.

About Acadia Realty Trust

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.