Goldman Sachs Group Inc. Cuts Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Goldman Sachs Group Inc. decreased its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,359,812 shares of the real estate investment trust’s stock after selling 271,591 shares during the quarter. Goldman Sachs Group Inc. owned 2.30% of Acadia Realty Trust worth $40,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Natixis Advisors L.P. grew its holdings in shares of Acadia Realty Trust by 5.0% during the third quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 997 shares in the last quarter. Swiss National Bank grew its holdings in shares of Acadia Realty Trust by 1.0% during the third quarter. Swiss National Bank now owns 209,300 shares of the real estate investment trust’s stock worth $3,003,000 after purchasing an additional 2,100 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 2,152 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Acadia Realty Trust by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 13,098 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 2,154 shares in the last quarter. Finally, Ziegler Capital Management LLC boosted its stake in Acadia Realty Trust by 4.5% in the fourth quarter. Ziegler Capital Management LLC now owns 54,676 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 2,335 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Up 0.3 %

Shares of AKR opened at $17.29 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of 216.13, a P/E/G ratio of 4.54 and a beta of 1.44. The stock has a 50 day simple moving average of $17.08 and a two-hundred day simple moving average of $16.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $17.90.

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

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.16%. Acadia Realty Trust’s dividend payout ratio is presently 900.00%.

Analysts Set New Price Targets

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

Insider Activity at Acadia Realty Trust

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

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 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.