Acadia Realty Trust (NYSE:AKR) Director Wendy W. Luscombe sold 699 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $28.52, for a total value of $19,935.48. Following the sale, the director now owns 39,499 shares of the company’s stock, valued at approximately $1,126,511.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
AKR stock traded down $0.48 on Friday, reaching $28.19. 350,669 shares of the company’s stock were exchanged, compared to its average volume of 414,995. Acadia Realty Trust has a twelve month low of $21.34 and a twelve month high of $30.63. The firm has a market capitalization of $2.33 billion, a PE ratio of 20.28, a P/E/G ratio of 2.38 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.00 and a quick ratio of 1.00.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $63.60 million for the quarter, compared to analyst estimates of $48.00 million. During the same period in the prior year, the company earned $0.37 EPS. The company’s revenue was up 6.9% on a year-over-year basis. equities research analysts expect that Acadia Realty Trust will post 1.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, September 27th. Acadia Realty Trust’s dividend payout ratio is presently 71.52%.
A number of hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd grew its holdings in Acadia Realty Trust by 147.3% during the second quarter. WINTON GROUP Ltd now owns 212,259 shares of the real estate investment trust’s stock worth $5,810,000 after acquiring an additional 126,441 shares during the period. Jane Street Group LLC acquired a new position in Acadia Realty Trust during the second quarter worth $390,000. Phocas Financial Corp. grew its holdings in Acadia Realty Trust by 16.3% during the second quarter. Phocas Financial Corp. now owns 391,766 shares of the real estate investment trust’s stock worth $10,723,000 after acquiring an additional 54,784 shares during the period. Millennium Management LLC grew its holdings in Acadia Realty Trust by 146.8% during the second quarter. Millennium Management LLC now owns 51,792 shares of the real estate investment trust’s stock worth $1,418,000 after acquiring an additional 30,810 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Acadia Realty Trust during the second quarter worth $751,000.
AKR has been the subject of several analyst reports. ValuEngine upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Sunday, July 8th. Citigroup upped their price target on Acadia Realty Trust from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Acadia Realty Trust presently has an average rating of “Hold” and a consensus price target of $31.00.
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 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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