Price T Rowe Associates Inc. MD Purchases 223,215 Shares of Acadia Realty Trust (NYSE:AKR)

Price T Rowe Associates Inc. MD increased its stake in shares of Acadia Realty Trust (NYSE:AKRFree Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,460,179 shares of the real estate investment trust’s stock after purchasing an additional 223,215 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.09% of Acadia Realty Trust worth $143,741,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AKR. Cohen & Steers Inc. raised its holdings in Acadia Realty Trust by 5.2% during the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Acadia Realty Trust by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,682,989 shares of the real estate investment trust’s stock worth $28,594,000 after acquiring an additional 54,996 shares in the last quarter. Vanguard Group Inc. raised its holdings in Acadia Realty Trust by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock worth $223,316,000 after acquiring an additional 118,807 shares in the last quarter. Graham Capital Management L.P. raised its holdings in Acadia Realty Trust by 238.7% during the third quarter. Graham Capital Management L.P. now owns 46,341 shares of the real estate investment trust’s stock worth $665,000 after acquiring an additional 32,659 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Acadia Realty Trust by 4.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 113,776 shares of the real estate investment trust’s stock worth $1,933,000 after acquiring an additional 4,800 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Richard Hartmann sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total value of $427,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO John J. Gottfried sold 12,500 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the sale, the chief financial officer now directly owns 7,600 shares in the company, valued at $128,364. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The disclosure for this sale can be found here. 2.83% of the stock is owned by company insiders.

Acadia Realty Trust Stock Performance

NYSE:AKR remained flat at $17.30 on Friday. The company’s stock had a trading volume of 1,160,842 shares, compared to its average volume of 1,058,374. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day moving average of $17.04 and a two-hundred day moving average of $16.80. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 216.25, a P/E/G ratio of 4.50 and a beta of 1.44. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $17.90.

Acadia Realty Trust (NYSE:AKRGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.27). The business had revenue of $91.36 million during the quarter, compared to the consensus estimate of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. Acadia Realty Trust’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Friday, June 28th. Acadia Realty Trust’s payout ratio is 900.00%.

Analysts Set New Price Targets

Separately, Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $20.00 in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.50.

Read Our Latest Report on Acadia Realty Trust

Acadia Realty Trust Profile

(Free Report)

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio 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 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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