Fmr LLC Raises Position in Acadia Realty Trust (NYSE:AKR)

Fmr LLC raised its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 21.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,620,757 shares of the real estate investment trust’s stock after acquiring an additional 2,041,986 shares during the period. Fmr LLC owned approximately 0.10% of Acadia Realty Trust worth $280,757,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Acadia Realty Trust by 1,097.7% during the 4th quarter. Russell Investments Group Ltd. now owns 148,658 shares of the real estate investment trust’s stock valued at $3,592,000 after acquiring an additional 136,246 shares during the last quarter. Wells Fargo & Company MN raised its stake in Acadia Realty Trust by 39.5% in the fourth quarter. Wells Fargo & Company MN now owns 76,646 shares of the real estate investment trust’s stock valued at $1,852,000 after purchasing an additional 21,688 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Acadia Realty Trust during the fourth quarter valued at approximately $1,139,000. Landscape Capital Management L.L.C. purchased a new position in Acadia Realty Trust in the 4th quarter worth approximately $247,000. Finally, Geode Capital Management LLC increased its holdings in shares of Acadia Realty Trust by 11.7% in the 4th quarter. Geode Capital Management LLC now owns 2,949,612 shares of the real estate investment trust’s stock worth $71,278,000 after buying an additional 308,117 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday.

Insiders Place Their Bets

In related news, EVP Jason Blacksberg sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock opened at $18.71 on Friday. The firm has a market capitalization of $2.24 billion, a PE ratio of 103.92, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. Acadia Realty Trust has a 12 month low of $16.14 and a 12 month high of $26.29. The business’s 50-day moving average price is $21.72 and its 200-day moving average price is $23.26.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 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%. Sell-side 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. Investors of record on Monday, March 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 444.44%.

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.