IronBridge Capital Management LP Lowers Position in Acadia Realty Trust (AKR)
IronBridge Capital Management LP reduced its stake in Acadia Realty Trust (NYSE:AKR) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,876 shares of the real estate investment trust’s stock after selling 37,900 shares during the period. IronBridge Capital Management LP’s holdings in Acadia Realty Trust were worth $15,056,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of AKR. William Blair Investment Management LLC increased its position in Acadia Realty Trust by 31.9% in the fourth quarter. William Blair Investment Management LLC now owns 674,911 shares of the real estate investment trust’s stock valued at $22,056,000 after buying an additional 163,421 shares during the period. Comerica Bank increased its position in Acadia Realty Trust by 7.2% in the fourth quarter. Comerica Bank now owns 86,303 shares of the real estate investment trust’s stock valued at $2,764,000 after buying an additional 5,827 shares during the period. American International Group Inc. increased its position in Acadia Realty Trust by 2.5% in the third quarter. American International Group Inc. now owns 54,162 shares of the real estate investment trust’s stock valued at $1,963,000 after buying an additional 1,304 shares during the period. AEW Capital Management L P increased its position in Acadia Realty Trust by 3.4% in the third quarter. AEW Capital Management L P now owns 1,912,680 shares of the real estate investment trust’s stock valued at $69,316,000 after buying an additional 63,200 shares during the period. Finally, Harrison Street Securities LLC increased its position in Acadia Realty Trust by 15.9% in the third quarter. Harrison Street Securities LLC now owns 21,824 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 2,986 shares during the period.
Shares of Acadia Realty Trust (NYSE AKR) opened at 27.68 on Monday. Acadia Realty Trust has a 12 month low of $26.70 and a 12 month high of $38.01. The company has a 50-day moving average of $27.99 and a 200-day moving average of $30.73. The stock has a market capitalization of $2.35 billion, a PE ratio of 37.76 and a beta of 0.60.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Acadia Realty Trust had a net margin of 27.19% and a return on equity of 2.92%. The business had revenue of $62 million during the quarter, compared to analyst estimates of $45.41 million. During the same period in the previous year, the business posted $0.41 EPS. The company’s quarterly revenue was up 29.0% on a year-over-year basis. On average, equities research analysts expect that Acadia Realty Trust will post $0.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Wednesday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 140.54%.
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A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Citigroup Inc. reiterated a “neutral” rating and set a $30.00 target price (down previously from $35.00) on shares of Acadia Realty Trust in a research note on Tuesday, June 6th. TheStreet downgraded shares of Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. BidaskClub upgraded shares of Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $36.00 target price on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Acadia Realty Trust currently has an average rating of “Hold” and a consensus target price of $35.75.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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