CANADA LIFE ASSURANCE Co Buys 29,969 Shares of Acadia Realty Trust (NYSE:AKR)

CANADA LIFE ASSURANCE Co increased its stake in shares of Acadia Realty Trust (NYSE:AKR) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 265,205 shares of the real estate investment trust’s stock after purchasing an additional 29,969 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.22% of Acadia Realty Trust worth $6,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AKR. USA Financial Formulas increased its position in Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 489 shares during the last quarter. Monument Capital Management grew its stake in shares of Acadia Realty Trust by 3.7% during the 4th quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 489 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Acadia Realty Trust by 91.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 717 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Acadia Realty Trust by 2.9% in the fourth quarter. Arizona State Retirement System now owns 30,568 shares of the real estate investment trust’s stock worth $739,000 after buying an additional 857 shares during the last quarter. Finally, Mariner LLC grew its position in Acadia Realty Trust by 2.5% during the fourth quarter. Mariner LLC now owns 44,221 shares of the real estate investment trust’s stock valued at $1,068,000 after buying an additional 1,080 shares during the period. Institutional investors own 97.65% of the company’s stock.

Insider Activity at Acadia Realty Trust

In other 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 value of $684,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

Acadia Realty Trust Stock Up 2.0 %

Shares of AKR stock opened at $19.84 on Wednesday. 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 has a one year low of $16.14 and a one year high of $26.29. The company’s fifty day moving average price is $21.13 and its 200-day moving average price is $23.08. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 110.22, a PEG ratio of 6.09 and a beta of 1.24.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating 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%. Sell-side analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.20 per share. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, March 31st. Acadia Realty Trust’s dividend payout ratio is currently 444.44%.

Analyst Ratings Changes

Separately, Truist Financial upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, April 10th.

Acadia Realty Trust Company 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.