Insider Selling: Acadia Realty Trust CEO Sells 100,000 Shares of Stock (AKR)
Acadia Realty Trust (NYSE:AKR) CEO Kenneth F. Bernstein unloaded 100,000 shares of Acadia Realty Trust stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $28.40, for a total value of $2,840,000.00. Following the transaction, the chief executive officer now directly owns 340,327 shares of the company’s stock, valued at approximately $9,665,287. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Separately, analysts at RBC Capital raised their price target on shares of Acadia Realty Trust from $32.00 to $33.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock.
Acadia Realty Trust (NYSE:AKR) traded up 1.66% on Wednesday, hitting $28.72. 324,792 shares of the company’s stock traded hands. Acadia Realty Trust has a 1-year low of $22.89 and a 1-year high of $28.93. The stock’s 50-day moving average is $28.39 and its 200-day moving average is $27.15. The company has a market cap of $1.704 billion and a price-to-earnings ratio of 29.46.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Analysts expect that Acadia Realty Trust will post $1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, September 26th.
Acadia Realty Trust (NYSE:AKR) is a real estate investment trust (REIT).
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