Acadia Realty Trust (NYSE:AKR) insider Joseph Napolitano sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $28.51, for a total value of $128,295.00. Following the completion of the transaction, the insider now owns 4,618 shares in the company, valued at $131,659.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
AKR opened at $28.58 on Wednesday. Acadia Realty Trust has a one year low of $21.34 and a one year high of $30.63. The company has a market capitalization of $2.30 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 2.35 and a beta of 0.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.00.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.24). Acadia Realty Trust had a return on equity of 2.25% and a net margin of 19.11%. The company had revenue of $63.60 million for the quarter, compared to analysts’ expectations of $48.00 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. analysts anticipate that Acadia Realty Trust will post 1.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, September 27th. Acadia Realty Trust’s payout ratio is 71.52%.
A number of research analysts recently commented on the company. ValuEngine upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Citigroup upped their price objective on Acadia Realty Trust from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Finally, Boenning Scattergood reiterated a “buy” rating and issued a $33.00 price objective on shares of Acadia Realty Trust in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.00.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new stake in Acadia Realty Trust in the second quarter valued at about $222,000. Point72 Hong Kong Ltd purchased a new position in Acadia Realty Trust in the second quarter valued at about $297,000. Xact Kapitalforvaltning AB increased its stake in shares of Acadia Realty Trust by 45.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,132 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 4,100 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Acadia Realty Trust during the 4th quarter worth approximately $331,000. Finally, Jane Street Group LLC purchased a new position in shares of Acadia Realty Trust during the 2nd quarter worth approximately $390,000.
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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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