First Trust Advisors LP Sells 92,910 Shares of Acadia Realty Trust (NYSE:AKR)

First Trust Advisors LP trimmed its position in Acadia Realty Trust (NYSE:AKR) by 61.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,093 shares of the real estate investment trust’s stock after selling 92,910 shares during the quarter. First Trust Advisors LP’s holdings in Acadia Realty Trust were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Acadia Realty Trust by 21.3% in the 4th quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust’s stock worth $280,757,000 after buying an additional 2,041,986 shares during the last quarter. Vanguard Group Inc. raised its position in Acadia Realty Trust by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust’s stock valued at $437,230,000 after purchasing an additional 1,459,448 shares during the period. Marshall Wace LLP lifted its stake in shares of Acadia Realty Trust by 94.6% in the 4th quarter. Marshall Wace LLP now owns 1,496,532 shares of the real estate investment trust’s stock valued at $36,156,000 after purchasing an additional 727,392 shares during the last quarter. Norges Bank purchased a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $8,439,000. Finally, Geode Capital Management LLC increased its position in shares of Acadia Realty Trust by 11.7% during the 4th quarter. Geode Capital Management LLC now owns 2,949,612 shares of the real estate investment trust’s stock valued at $71,278,000 after purchasing an additional 308,117 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Acadia Realty Trust Trading Down 0.5 %

AKR opened at $19.28 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. The stock’s 50 day moving average price is $20.38 and its 200-day moving average price is $22.79. Acadia Realty Trust has a one year low of $16.14 and a one year high of $26.29. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 107.12, a P/E/G ratio of 6.09 and a beta of 1.39.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. The company had revenue of $104.39 million for the quarter, compared to the consensus estimate of $86.99 million. Acadia Realty Trust’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. On average, equities analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Monday, March 31st. Acadia Realty Trust’s dividend payout ratio is currently 500.00%.

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.