Acadia Realty Trust (NYSE:AKR) CFO Sells $211,125.00 in Stock

Acadia Realty Trust (NYSE:AKR) CFO John J. Gottfried sold 12,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $16.89, for a total value of $211,125.00. Following the transaction, the chief financial officer now owns 7,600 shares of the company’s stock, valued at $128,364. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Acadia Realty Trust Trading Down 1.7 %

AKR opened at $16.85 on Thursday. 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 stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 210.63, a PEG ratio of 11.30 and a beta of 1.41. The business has a fifty day moving average price of $16.80 and a 200 day moving average price of $16.36. Acadia Realty Trust has a 12 month low of $12.37 and a 12 month high of $17.90.

Acadia Realty Trust (NYSE:AKR) last issued 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). Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 4.27%. Acadia Realty Trust’s dividend payout ratio is presently 900.00%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AKR. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Acadia Realty Trust by 1.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,003 shares of the real estate investment trust’s stock worth $631,000 after acquiring an additional 781 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Acadia Realty Trust by 5.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,619 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 932 shares during the last quarter. Natixis Advisors L.P. increased its stake in Acadia Realty Trust by 5.0% in the third quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 997 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Acadia Realty Trust by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 30,359 shares of the real estate investment trust’s stock valued at $436,000 after buying an additional 1,123 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Acadia Realty Trust by 2.3% during the third quarter. Nisa Investment Advisors LLC now owns 55,229 shares of the real estate investment trust’s stock worth $793,000 after buying an additional 1,241 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

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.