Ameriprise Financial Inc. Cuts Stock Position in Acadia Realty Trust (NYSE:AKR)

Ameriprise Financial Inc. lessened its holdings in Acadia Realty Trust (NYSE:AKR) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,174 shares of the real estate investment trust’s stock after selling 25,289 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Acadia Realty Trust worth $6,920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 717 shares during the period. Sterling Capital Management LLC raised its position in shares of Acadia Realty Trust by 960.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 3,344 shares in the last quarter. KBC Group NV raised its holdings in shares of Acadia Realty Trust by 44.1% in the 4th 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. Xponance Inc. bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth approximately $203,000. Finally, Longboard Asset Management LP bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Insider Transactions at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.83% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $19.05 on Friday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 105.81, a P/E/G ratio of 6.09 and a beta of 1.39. The firm’s 50 day simple moving average is $19.80 and its 200 day simple moving average is $22.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29.

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

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 4.20%. Acadia Realty Trust’s dividend payout ratio is 500.00%.

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 objective on the stock in a research report 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.