KLP Kapitalforvaltning AS Purchases New Shares in Acadia Realty Trust (NYSE:AKR)

KLP Kapitalforvaltning AS acquired a new position in shares of Acadia Realty Trust (NYSE:AKR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 22,700 shares of the real estate investment trust’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. USA Financial Formulas increased its position in Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 489 shares during the period. Monument Capital Management grew its position in shares of Acadia Realty Trust by 3.7% during the 4th quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 489 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 717 shares during the period. Arizona State Retirement System raised its position in shares of Acadia Realty Trust by 2.9% in the fourth quarter. Arizona State Retirement System now owns 30,568 shares of the real estate investment trust’s stock valued at $739,000 after buying an additional 857 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of Acadia Realty Trust by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 12,081 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their target price on Acadia Realty Trust from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.00.

Acadia Realty Trust Stock Up 2.2 %

NYSE AKR opened at $21.19 on Thursday. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29. The business has a fifty day moving average price of $22.55 and a two-hundred day moving average price of $23.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $2.54 billion, a PE ratio of 117.72, a PEG 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 earnings per share 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%. Equities analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

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

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.