According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “
Several other equities research analysts also recently issued reports on AKR. ValuEngine downgraded Welbilt from a hold rating to a sell rating in a research report on Wednesday, June 12th. Citigroup set a $98.00 target price on Reliance Steel & Aluminum and gave the stock a hold rating in a research report on Monday, May 20th.
Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.22). The company had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $51.36 million. Acadia Realty Trust had a return on equity of 1.71% and a net margin of 13.17%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. Equities analysts forecast that Acadia Realty Trust will post 1.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.12 annualized dividend and a dividend yield of 4.18%. Acadia Realty Trust’s dividend payout ratio is currently 82.96%.
In related news, EVP Christopher Conlon sold 20,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $27.83, for a total value of $556,600.00. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at $278,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jason Blacksberg sold 1,897 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $28.51, for a total value of $54,083.47. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at approximately $114,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,574 shares of company stock worth $801,806. Company insiders own 2.47% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Private Capital Group LLC raised its position in shares of Acadia Realty Trust by 31.5% in the first quarter. Private Capital Group LLC now owns 2,683 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 643 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Acadia Realty Trust by 3,884.3% in the first quarter. Quadrant Capital Group LLC now owns 3,307 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 3,224 shares in the last quarter. Pearl River Capital LLC raised its position in shares of Acadia Realty Trust by 3,138.0% in the first quarter. Pearl River Capital LLC now owns 6,476 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 6,276 shares in the last quarter. Advisor Group Inc. raised its position in shares of Acadia Realty Trust by 221.1% in the fourth 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 in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Acadia Realty Trust in the fourth quarter worth $208,000.
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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