Acadia Realty Trust (NYSE:AKR) Shares Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. boosted its stake in Acadia Realty Trust (NYSE:AKR) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,475 shares of the real estate investment trust’s stock after buying an additional 3,182 shares during the period. Corebridge Financial Inc. owned 0.05% of Acadia Realty Trust worth $1,509,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AKR. Smartleaf Asset Management LLC grew its position in shares of Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 717 shares during the last quarter. USA Financial Formulas boosted its stake in Acadia Realty Trust by 14.4% during the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 489 shares during the period. KBC Group NV grew its position in Acadia Realty Trust by 44.1% in the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,448 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $203,000. Finally, Longboard Asset Management LP bought a new stake in shares of Acadia Realty Trust during the fourth quarter valued at approximately $213,000. 97.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered their target price on Acadia Realty Trust from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Acadia Realty Trust currently has a consensus rating of “Hold” and an average target price of $22.00.

Acadia Realty Trust Trading Up 2.2 %

Shares of NYSE:AKR opened at $21.19 on Thursday. The company has a 50 day moving average of $22.55 and a 200-day moving average of $23.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market cap of $2.54 billion, a P/E ratio of 117.72, a P/E/G ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a twelve month low of $16.14 and a twelve month high of $26.29.

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

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust’s payout ratio is presently 444.44%.

Insider Activity at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.83% of the company’s stock.

Acadia Realty Trust 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.