Forward Management LLC Has $935,000 Position in Acadia Realty Trust (AKR)
Forward Management LLC decreased its holdings in Acadia Realty Trust (NYSE:AKR) by 10.9% in the 3rd quarter, Holdings Channel reports. The firm owned 33,370 shares of the real estate investment trust’s stock after selling 4,100 shares during the quarter. Forward Management LLC’s holdings in Acadia Realty Trust were worth $935,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Paloma Partners Management Co bought a new position in Acadia Realty Trust in the 2nd quarter valued at $222,000. Fox Run Management L.L.C. bought a new position in Acadia Realty Trust in the 3rd quarter valued at $288,000. Point72 Hong Kong Ltd bought a new position in Acadia Realty Trust in the 2nd quarter valued at $297,000. Jane Street Group LLC bought a new position in Acadia Realty Trust in the 2nd quarter valued at $390,000. Finally, Xact Kapitalforvaltning AB raised its position in Acadia Realty Trust by 13.8% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 15,632 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 1,900 shares during the last quarter.
In other Acadia Realty Trust news, insider Richard Hartmann sold 2,203 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $28.51, for a total value of $62,807.53. Following the completion of the transaction, the insider now directly owns 444 shares of the company’s stock, valued at $12,658.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Wendy W. Luscombe sold 4,500 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $28.00, for a total value of $126,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,382 shares of company stock valued at $406,839. 2.15% of the stock is owned by insiders.
Acadia Realty Trust (NYSE:AKR) last released its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.66 million. Acadia Realty Trust had a return on equity of 2.09% and a net margin of 17.43%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities research analysts predict that Acadia Realty Trust will post 1.38 earnings per share for the current fiscal year.
AKR has been the subject of several research analyst reports. Bank of America lifted their price objective on Acadia Realty Trust from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Citigroup lifted their price objective on Acadia Realty Trust from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. Finally, ValuEngine upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.33.
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About Acadia Realty Trust
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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