Acadia Realty Trust (NYSE:AKR) EVP Jason Blacksberg Sells 30,000 Shares of Stock

Acadia Realty Trust (NYSE:AKR) EVP Jason Blacksberg sold 30,000 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $22.49 on Monday. The stock’s 50-day moving average is $23.16 and its two-hundred day moving average is $23.69. Acadia Realty Trust has a fifty-two week low of $16.10 and a fifty-two week high of $26.29. The firm has a market cap of $2.69 billion, a P/E ratio of 124.95, a PEG ratio of 6.09 and a beta of 1.49. 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 released 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%. Analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, March 31st. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio (DPR) is 444.44%.

Hedge Funds Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. Van ECK Associates Corp grew its holdings in Acadia Realty Trust by 14.7% during the third quarter. Van ECK Associates Corp now owns 17,727 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 2,268 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Acadia Realty Trust by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock valued at $3,725,000 after acquiring an additional 476 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Acadia Realty Trust in the third quarter valued at approximately $202,000. Wolverine Asset Management LLC bought a new stake in shares of Acadia Realty Trust in the third quarter valued at approximately $267,000. Finally, GSA Capital Partners LLP acquired a new stake in Acadia Realty Trust during the third quarter worth $849,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Analyst Ratings Changes

AKR has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.