Jason Blacksberg Sells 30,000 Shares of Acadia Realty Trust (NYSE:AKR) Stock

Acadia Realty Trust (NYSE:AKR) EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Acadia Realty Trust Stock Down 0.1 %

Acadia Realty Trust stock opened at $22.49 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. Acadia Realty Trust has a 1-year low of $16.10 and a 1-year high of $26.29. The company has a fifty day simple moving average of $23.16 and a 200 day simple moving average of $23.68. The company has a market cap of $2.69 billion, a P/E ratio of 124.95, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 3.56%. Acadia Realty Trust’s payout ratio is 444.44%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AKR. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Truist Financial raised their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.00.

Institutional Trading of Acadia Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of AKR. Van ECK Associates Corp lifted its holdings in shares of Acadia Realty Trust by 14.7% during the 3rd quarter. Van ECK Associates Corp now owns 17,727 shares of the real estate investment trust’s stock worth $431,000 after acquiring an additional 2,268 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Acadia Realty Trust by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after buying an additional 476 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Acadia Realty Trust during the third quarter worth $202,000. Wolverine Asset Management LLC acquired a new stake in shares of Acadia Realty Trust during the third quarter worth $267,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Acadia Realty Trust during the third quarter worth $849,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

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.