Bank of Montreal Can Increases Stock Position in Acadia Realty Trust (NYSE:AKR)

Bank of Montreal Can boosted its position in shares of Acadia Realty Trust (NYSE:AKR) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,772 shares of the real estate investment trust’s stock after buying an additional 2,738 shares during the quarter. Bank of Montreal Can’s holdings in Acadia Realty Trust were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AKR. Smartleaf Asset Management LLC grew its position in shares of Acadia Realty Trust by 91.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 717 shares during the period. USA Financial Formulas boosted its position in Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 489 shares in the last quarter. KBC Group NV grew 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 valued at $114,000 after purchasing an additional 1,448 shares during the period. Xponance Inc. purchased a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $203,000. Finally, Longboard Asset Management LP purchased a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Insider Buying and Selling

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by company insiders.

Acadia Realty Trust Price Performance

NYSE:AKR opened at $19.80 on Thursday. The stock has a 50 day moving average of $21.05 and a two-hundred day moving average of $23.06. Acadia Realty Trust has a 12 month low of $16.14 and a 12 month high of $26.29. The firm has a market cap of $2.37 billion, a P/E ratio of 109.98, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.20 dividend. 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 4.04%. The ex-dividend date was Monday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 444.44%.

Analysts Set New Price Targets

Separately, Truist Financial raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Thursday, April 10th.

Acadia Realty Trust 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.