Wolverine Asset Management LLC bought a new stake in shares of Acadia Realty Trust (NYSE:AKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,628 shares of the real estate investment trust’s stock, valued at approximately $1,439,000. Wolverine Asset Management LLC owned approximately 0.06% of Acadia Realty Trust at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Acadia Realty Trust by 7.1% during the 4th quarter. BlackRock Inc. now owns 13,097,046 shares of the real estate investment trust’s stock valued at $358,335,000 after purchasing an additional 872,787 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Acadia Realty Trust by 385.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,408 shares of the real estate investment trust’s stock valued at $45,377,000 after purchasing an additional 1,253,864 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Acadia Realty Trust by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,279,288 shares of the real estate investment trust’s stock valued at $35,002,000 after purchasing an additional 40,731 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Acadia Realty Trust by 3.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,235,503 shares of the real estate investment trust’s stock valued at $35,360,000 after purchasing an additional 39,392 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its position in shares of Acadia Realty Trust by 0.6% during the 4th quarter. AMP Capital Investors Ltd now owns 1,192,802 shares of the real estate investment trust’s stock valued at $32,636,000 after purchasing an additional 7,697 shares in the last quarter.
In other news, insider Joseph Napolitano sold 14,626 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $25.26, for a total value of $369,452.76. Following the transaction, the insider now owns 14,744 shares in the company, valued at $372,433.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.74% of the stock is owned by company insiders.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.08). The firm had revenue of $66.08 million during the quarter, compared to the consensus estimate of $50.00 million. Acadia Realty Trust had a return on equity of 2.81% and a net margin of 24.56%. equities analysts expect that Acadia Realty Trust will post 1.39 EPS for the current year.
Acadia Realty Trust declared that its board has authorized a share buyback plan 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business 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 of this dividend is Wednesday, March 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.30%. Acadia Realty Trust’s dividend payout ratio is presently 150.00%.
AKR has been the topic of several research analyst reports. Zacks Investment Research lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. KeyCorp lowered Acadia Realty Trust from an “overweight” rating to a “hold” rating in a research report on Monday, November 20th. Boenning Scattergood set a $35.00 target price on Acadia Realty Trust and gave the company a “buy” rating in a research report on Wednesday, December 6th. Finally, Citigroup cut their price target on Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $32.75.
ILLEGAL ACTIVITY NOTICE: “Wolverine Asset Management LLC Buys New Stake in Acadia Realty Trust (AKR)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/03/12/wolverine-asset-management-llc-buys-new-stake-in-acadia-realty-trust-akr.html.
About Acadia Realty Trust
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.
Want to see what other hedge funds are holding AKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acadia Realty Trust (NYSE:AKR).
Receive News & Ratings for Acadia Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acadia Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.