Wolverine Asset Management LLC Decreases Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Wolverine Asset Management LLC cut its holdings in Acadia Realty Trust (NYSE:AKR) by 86.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,589 shares of the real estate investment trust’s stock after selling 9,768 shares during the quarter. Wolverine Asset Management LLC’s holdings in Acadia Realty Trust were worth $38,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in Acadia Realty Trust by 3.6% in the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock valued at $2,358,000 after buying an additional 3,453 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Acadia Realty Trust in the third quarter valued at about $202,000. Contravisory Investment Management Inc. purchased a new stake in Acadia Realty Trust in the fourth quarter valued at about $297,000. KBC Group NV raised its stake in 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 valued at $114,000 after buying an additional 1,448 shares during the last quarter. Finally, Barclays PLC raised its stake in Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after buying an additional 81,853 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial increased their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.00.

Acadia Realty Trust Trading Up 1.4 %

Shares of NYSE:AKR opened at $23.09 on Tuesday. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 128.25, a PEG ratio of 6.14 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $23.38 and a 200-day moving average price of $23.60.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Equities analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.47%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is 422.22%.

Acadia Realty Trust Profile

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.