Teachers Insurance & Annuity Association of America grew its stake in shares of Acadia Realty Trust (NYSE:AKR) by 10.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 90,769 shares of the real estate investment trust’s stock after acquiring an additional 8,567 shares during the period. Teachers Insurance & Annuity Association of America owned about 0.11% of Acadia Realty Trust worth $2,483,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in AKR. Royal Bank of Canada lifted its position in shares of Acadia Realty Trust by 72.2% during the 2nd quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 2,775 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Acadia Realty Trust by 307.3% during the 3rd quarter. Nationwide Fund Advisors now owns 213,321 shares of the real estate investment trust’s stock valued at $6,105,000 after acquiring an additional 160,941 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Acadia Realty Trust by 25.3% during the 3rd quarter. First Trust Advisors LP now owns 60,984 shares of the real estate investment trust’s stock valued at $1,745,000 after acquiring an additional 12,324 shares during the last quarter. Aperio Group LLC lifted its position in shares of Acadia Realty Trust by 69.0% during the 3rd quarter. Aperio Group LLC now owns 31,326 shares of the real estate investment trust’s stock valued at $897,000 after acquiring an additional 12,791 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Acadia Realty Trust during the 3rd quarter valued at $503,000.
In other news, insider Joseph Napolitano sold 14,626 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $25.26, for a total value of $369,452.76. Following the transaction, the insider now directly owns 14,744 shares of the company’s stock, valued at $372,433.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.74% of the stock is owned by corporate insiders.
Acadia Realty Trust (NYSE:AKR) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.08). The business had revenue of $66.08 million during the quarter, compared to analysts’ expectations of $50.00 million. Acadia Realty Trust had a net margin of 24.56% and a return on equity of 2.81%. sell-side analysts expect that Acadia Realty Trust will post 1.39 EPS for the current fiscal year.
Acadia Realty Trust declared that its board has authorized a share buyback program on Wednesday, February 21st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.32%. Acadia Realty Trust’s payout ratio is currently 150.00%.
A number of analysts have recently issued reports on AKR shares. Zacks Investment Research lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. KeyCorp lowered Acadia Realty Trust from an “overweight” rating to a “hold” rating in a report on Monday, November 20th. Boenning Scattergood restated a “buy” rating on shares of Acadia Realty Trust in a report on Friday, February 23rd. Finally, Citigroup reduced their target price on Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Acadia Realty Trust has an average rating of “Hold” and a consensus target price of $32.75.
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Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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