Wellington Management Group LLP Has $71.38 Million Stake in Acadia Realty Trust (NYSE:AKR)

Wellington Management Group LLP reduced its position in shares of Acadia Realty Trust (NYSE:AKR) by 50.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,954,618 shares of the real estate investment trust’s stock after selling 3,048,511 shares during the quarter. Wellington Management Group LLP’s holdings in Acadia Realty Trust were worth $71,384,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 717 shares during the period. USA Financial Formulas increased its holdings in shares of Acadia Realty Trust by 14.4% in the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 489 shares during the period. KBC Group NV lifted its position in shares of Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,448 shares in the last quarter. Xponance Inc. acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth approximately $203,000. Finally, Longboard Asset Management LP purchased a new position in Acadia Realty Trust during the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their target price on shares of Acadia Realty Trust from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday. One 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. Based on data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Acadia Realty Trust Stock Down 6.0 %

AKR opened at $18.31 on Friday. The company has a market capitalization of $2.19 billion, a PE ratio of 101.69, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. The business has a 50-day moving average of $22.39 and a 200-day moving average of $23.48. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. Equities research analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.37%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. Acadia Realty Trust’s dividend payout ratio is presently 444.44%.

Insider Buying and Selling at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.83% of the company’s stock.

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.