Acadia Realty Trust (NYSE:AKR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in Acadia Realty Trust (NYSE:AKR) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,730,095 shares of the real estate investment trust’s stock after selling 43,246 shares during the period. Legal & General Group Plc owned 1.45% of Acadia Realty Trust worth $41,799,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.83% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR opened at $18.71 on Friday. Acadia Realty Trust has a 12-month low of $16.14 and a 12-month high of $26.29. The company has a market cap of $2.24 billion, a PE ratio of 103.92, a P/E/G ratio of 6.09 and a beta of 1.24. The stock has a 50 day simple moving average of $21.72 and a 200-day simple moving average of $23.26. 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 (NYSE:AKR) last released its earnings results 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 net margin of 5.74% and a return on equity of 0.88%. On average, equities research analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.28%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s payout ratio is currently 444.44%.

Analysts Set New Price Targets

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 research report on Thursday.

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.