BNP Paribas Financial Markets Sells 6,476 Shares of Acadia Realty Trust (NYSE:AKR)

BNP Paribas Financial Markets trimmed its stake in shares of Acadia Realty Trust (NYSE:AKR) by 28.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,493 shares of the real estate investment trust’s stock after selling 6,476 shares during the quarter. BNP Paribas Financial Markets’ holdings in Acadia Realty Trust were worth $398,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 717 shares during the period. Sterling Capital Management LLC increased its holdings in 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 acquiring an additional 3,344 shares during the period. KBC Group NV lifted its stake in 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. purchased a new stake in Acadia Realty Trust in the 4th quarter worth approximately $203,000. Finally, Longboard Asset Management LP bought a new position in Acadia Realty Trust in the 4th quarter valued at $213,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Down 0.1%

Shares of AKR opened at $18.98 on Monday. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The company has a market capitalization of $2.49 billion, a P/E ratio of 105.45, a P/E/G ratio of 6.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $19.76 and its 200 day simple moving average is $22.35.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, topping 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 firm had revenue of $104.39 million for the quarter, compared to analyst estimates of $86.99 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. Sell-side analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.21%. Acadia Realty Trust’s dividend payout ratio is 500.00%.

Insider Buying and Selling

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.

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 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.