California State Teachers Retirement System lifted its stake in Acadia Realty Trust (NYSE:AKR) by 2.3% during the 4th quarter, Holdings Channel reports. The fund owned 126,126 shares of the real estate investment trust’s stock after purchasing an additional 2,844 shares during the quarter. California State Teachers Retirement System’s holdings in Acadia Realty Trust were worth $2,997,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AKR. Oregon Public Employees Retirement Fund acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $31,000. Bank of Montreal Can increased its stake in Acadia Realty Trust by 68.4% during the 4th quarter. Bank of Montreal Can now owns 2,443 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 992 shares during the period. Advisor Group Inc. increased its stake in Acadia Realty Trust by 221.1% during the 4th quarter. Advisor Group Inc. now owns 7,379 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 5,081 shares during the period. GSA Capital Partners LLP purchased a new stake in Acadia Realty Trust during the 4th quarter worth approximately $208,000. Finally, Raymond James & Associates purchased a new stake in Acadia Realty Trust during the 4th quarter worth approximately $217,000.
In other Acadia Realty Trust news, EVP Christopher Conlon sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $27.91, for a total value of $139,550.00. Following the sale, the executive vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $418,650. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jason Blacksberg sold 2,096 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $29.50, for a total transaction of $61,832.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,096 shares of company stock worth $481,982. 2.15% of the stock is owned by insiders.
Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.27). Acadia Realty Trust had a return on equity of 1.48% and a net margin of 11.95%. The business had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $53.28 million. During the same period in the previous year, the company earned $0.35 earnings per share. Acadia Realty Trust’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that Acadia Realty Trust will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.10%. The ex-dividend date is Thursday, March 28th. Acadia Realty Trust’s payout ratio is currently 82.96%.
Several equities research analysts recently weighed in on AKR shares. ValuEngine downgraded shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. Zacks Investment Research raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.33.
Acadia Realty Trust 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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