Acadia Realty Trust (NYSE:AKR) Short Interest Down 5.9% in June

Acadia Realty Trust (NYSE:AKR) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 2,860,000 shares, a decline of 5.9% from the May 31st total of 3,040,000 shares. Based on an average daily volume of 926,200 shares, the days-to-cover ratio is presently 3.1 days.

Insider Buying and Selling

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

Hedge Funds Weigh In On Acadia Realty Trust

Several large investors have recently modified their holdings of AKR. Federated Hermes Inc. increased its holdings in shares of Acadia Realty Trust by 189.9% in the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,152 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Acadia Realty Trust by 5.0% in the 3rd quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 997 shares during the period. Advisors Asset Management Inc. grew its position in shares of Acadia Realty Trust by 27.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 132,293 shares of the real estate investment trust’s stock valued at $1,898,000 after buying an additional 28,470 shares during the last quarter. GSA Capital Partners LLP bought a new position in Acadia Realty Trust in the third quarter worth about $2,297,000. Finally, Tudor Investment Corp Et Al acquired a new position in Acadia Realty Trust in the third quarter valued at approximately $2,984,000. Institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research report on Wednesday, June 26th. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.40.

Acadia Realty Trust Price Performance

AKR remained flat at $18.23 on Wednesday. The company had a trading volume of 268,046 shares, compared to its average volume of 1,053,575. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $18.39. The firm has a 50-day moving average of $17.18 and a 200 day moving average of $16.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $1.88 billion, a PE ratio of 229.63, a price-to-earnings-growth ratio of 4.72 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.27). The business had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share. As a group, research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business 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 3.95%. The ex-dividend date of this dividend is Friday, June 28th. Acadia Realty Trust’s payout ratio is currently 900.00%.

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 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.