Bank of New York Mellon Corp Has $26.84 Million Stock Position in Acadia Realty Trust (NYSE:AKR)

Bank of New York Mellon Corp boosted its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,110,758 shares of the real estate investment trust’s stock after acquiring an additional 56,614 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Acadia Realty Trust worth $26,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in Acadia Realty Trust by 0.3% in 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 purchasing an additional 476 shares in the last quarter. USA Financial Formulas lifted its stake in shares of Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 489 shares during the last quarter. Monument Capital Management lifted its stake in shares of Acadia Realty Trust by 3.7% in the fourth quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust’s stock worth $335,000 after buying an additional 489 shares during the last quarter. New York State Common Retirement Fund lifted its position in Acadia Realty Trust by 4.5% during the 4th quarter. New York State Common Retirement Fund now owns 32,647 shares of the real estate investment trust’s stock worth $789,000 after acquiring an additional 1,400 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 1,448 shares during the period. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

AKR has been the subject of several research reports. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.00.

Insider Activity at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is owned by company insiders.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $22.49 on Friday. The business has a fifty day moving average of $23.16 and a 200-day moving average of $23.68. The firm has a market cap of $2.69 billion, a PE ratio of 124.95, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. Acadia Realty Trust has a twelve month low of $16.10 and a twelve month high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. On average, equities research analysts predict that Acadia Realty Trust will post 1.34 EPS 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, March 31st. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio is 444.44%.

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.