Citigroup Inc. Sells 614,987 Shares of Acadia Realty Trust $AKR

Citigroup Inc. lessened its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 83.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 124,273 shares of the real estate investment trust’s stock after selling 614,987 shares during the quarter. Citigroup Inc. owned approximately 0.09% of Acadia Realty Trust worth $2,504,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AKR. Hantz Financial Services Inc. increased its stake in shares of Acadia Realty Trust by 189.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 902 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Acadia Realty Trust by 32.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 547 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Acadia Realty Trust in the 2nd quarter valued at $47,000. EverSource Wealth Advisors LLC boosted its holdings in Acadia Realty Trust by 342.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 2,309 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Acadia Realty Trust by 10.8% in the second quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 543 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $20.86 on Friday. The company has a market capitalization of $2.73 billion, a PE ratio of 231.80, a price-to-earnings-growth ratio of 2.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Acadia Realty Trust has a one year low of $16.98 and a one year high of $22.84. The company’s fifty day moving average price is $20.62 and its 200 day moving average price is $20.17.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). The firm had revenue of $104.77 million for the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. As a group, analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 3.8%. Acadia Realty Trust’s dividend payout ratio is presently 888.89%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Truist Financial lowered their price objective on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Citigroup raised their price objective on Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.33.

Acadia Realty Trust Profile

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.