Acadia Realty Trust (NYSE:AKR) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its stake in shares of Acadia Realty Trust (NYSE:AKR) by 6.4% in the 1st quarter, HoldingsChannel reports. The firm owned 159,458 shares of the real estate investment trust’s stock after selling 10,890 shares during the period. Alliancebernstein L.P.’s holdings in Acadia Realty Trust were worth $3,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AKR. First Trust Advisors LP grew its stake in Acadia Realty Trust by 53.0% during the 1st quarter. First Trust Advisors LP now owns 75,406 shares of the real estate investment trust’s stock worth $2,056,000 after purchasing an additional 26,111 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Acadia Realty Trust by 81.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 491,196 shares of the real estate investment trust’s stock worth $6,970,000 after buying an additional 220,946 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Acadia Realty Trust during the 4th quarter worth about $166,000. Daiwa Securities Group Inc. lifted its holdings in Acadia Realty Trust by 15.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,429 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 2,700 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Acadia Realty Trust by 20.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 87,142 shares of the real estate investment trust’s stock worth $1,237,000 after buying an additional 14,597 shares during the last quarter.

AKR opened at $22.62 on Friday. The firm’s 50 day moving average is $21.03. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.95 billion, a P/E ratio of 377.00, a PEG ratio of 3.65 and a beta of 1.48. Acadia Realty Trust has a 52 week low of $9.10 and a 52 week high of $22.97.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.18. Acadia Realty Trust had a return on equity of 0.22% and a net margin of 1.80%. Analysts predict that Acadia Realty Trust will post 1.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.65%. The ex-dividend date is Tuesday, June 29th. Acadia Realty Trust’s dividend payout ratio is presently 58.82%.

In other Acadia Realty Trust news, VP Jason Blacksberg sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 1st. The stock was sold at an average price of $22.13, for a total transaction of $66,390.00. Following the transaction, the vice president now owns 3,000 shares in the company, valued at approximately $66,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Napolitano sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $20.60, for a total value of $103,000.00. Following the transaction, the vice president now owns 3,000 shares in the company, valued at approximately $61,800. The disclosure for this sale can be found here. Insiders have sold a total of 10,523 shares of company stock worth $220,608 in the last quarter. 2.68% of the stock is currently owned by insiders.

A number of brokerages have issued reports on AKR. KeyCorp lifted their price target on Acadia Realty Trust from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist boosted their target price on Acadia Realty Trust from $15.00 to $20.00 in a report on Friday, March 5th. TheStreet raised Acadia Realty Trust from a “d” rating to a “c-” rating in a report on Friday, April 30th. Finally, Zacks Investment Research raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Acadia Realty Trust has an average rating of “Hold” and a consensus target price of $16.50.

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 Â- Core Portfolio and Fund Â- 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 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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Institutional Ownership by Quarter for Acadia Realty Trust (NYSE:AKR)

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