Vanguard Group Inc. Purchases 1,459,448 Shares of Acadia Realty Trust (NYSE:AKR)

Vanguard Group Inc. grew its position in Acadia Realty Trust (NYSE:AKR) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,097,268 shares of the real estate investment trust’s stock after purchasing an additional 1,459,448 shares during the quarter. Vanguard Group Inc. owned approximately 15.13% of Acadia Realty Trust worth $437,230,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Jane Street Group LLC grew its holdings in Acadia Realty Trust by 3.6% during the 3rd quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock worth $2,358,000 after acquiring an additional 3,453 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Acadia Realty Trust during the fourth quarter worth approximately $297,000. KBC Group NV increased its holdings in Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,448 shares in the last quarter. Barclays PLC lifted its stake in Acadia Realty Trust by 11.8% in the third 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 during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Acadia Realty Trust by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock worth $62,033,000 after buying an additional 63,672 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Truist Financial dropped their target price on shares of Acadia Realty Trust from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acadia Realty Trust presently has an average rating of “Hold” and a consensus price target of $22.00.

Acadia Realty Trust Stock Down 1.1 %

Shares of NYSE:AKR opened at $20.71 on Wednesday. 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 52-week low of $16.14 and a 52-week high of $26.29. The business’s 50 day simple moving average is $22.57 and its two-hundred day simple moving average is $23.55. The firm has a market cap of $2.48 billion, a P/E ratio of 115.06, a PEG ratio of 6.09 and a beta of 1.49.

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

Acadia Realty Trust Increases Dividend

The firm 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. The ex-dividend date is Monday, March 31st. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. Acadia Realty Trust’s payout ratio is presently 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.