Great Lakes Advisors LLC Buys Shares of 172,374 Acadia Realty Trust (NYSE:AKR)

Great Lakes Advisors LLC bought a new stake in Acadia Realty Trust (NYSE:AKR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 172,374 shares of the real estate investment trust’s stock, valued at approximately $4,165,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AKR. Crossmark Global Holdings Inc. bought a new position in Acadia Realty Trust in the third quarter valued at about $202,000. Wolverine Asset Management LLC bought a new position in Acadia Realty Trust in the third quarter valued at about $267,000. GSA Capital Partners LLP bought a new position in Acadia Realty Trust in the third quarter valued at about $849,000. Sumitomo Mitsui Trust Group Inc. grew its position in Acadia Realty Trust by 3.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 114,905 shares of the real estate investment trust’s stock valued at $2,698,000 after acquiring an additional 3,842 shares during the last quarter. Finally, Metis Global Partners LLC bought a new position in Acadia Realty Trust in the third quarter valued at about $255,000. Institutional investors own 97.65% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.83% of the stock is owned by insiders.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $21.33 on Friday. The business’s 50-day moving average price is $22.91 and its 200-day moving average price is $23.65. Acadia Realty Trust has a 12 month low of $16.10 and a 12 month high of $26.29. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 118.47, a PEG ratio of 6.09 and a beta of 1.49. 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 (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS 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%. Equities research analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed 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. This is a positive change 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 3.75%. The ex-dividend date is Monday, March 31st. Acadia Realty Trust’s payout ratio is currently 444.44%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial lifted their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One 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 stock currently has a consensus rating of “Hold” and an average target price of $23.00.

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.