Goldman Sachs Group Inc. decreased its position in shares of Acadia Realty Trust (NYSE:AKR) by 7.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,632,117 shares of the real estate investment trust’s stock after selling 385,561 shares during the period. Goldman Sachs Group Inc. owned 5.47% of Acadia Realty Trust worth $139,242,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in AKR. Vanguard Group Inc. boosted its position in shares of Acadia Realty Trust by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,251,912 shares of the real estate investment trust’s stock worth $398,353,000 after buying an additional 455,193 shares during the period. BlackRock Inc. raised its stake in Acadia Realty Trust by 9,971.2% in the first quarter. BlackRock Inc. now owns 12,171,692 shares of the real estate investment trust’s stock worth $365,879,000 after buying an additional 12,050,835 shares in the last quarter. State Street Corp raised its stake in Acadia Realty Trust by 7.4% in the first quarter. State Street Corp now owns 3,152,708 shares of the real estate investment trust’s stock worth $94,765,000 after buying an additional 216,710 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Acadia Realty Trust by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 1,246,966 shares of the real estate investment trust’s stock worth $37,485,000 after buying an additional 98,174 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Acadia Realty Trust by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,112,019 shares of the real estate investment trust’s stock worth $33,427,000 after buying an additional 106,366 shares in the last quarter.
Acadia Realty Trust (AKR) traded up 2.48% during mid-day trading on Monday, hitting $28.12. 116,220 shares of the stock were exchanged. The company’s 50-day moving average price is $27.88 and its 200 day moving average price is $30.61. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 38.36 and a beta of 0.60. Acadia Realty Trust has a 52 week low of $26.70 and a 52 week high of $38.01.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $62 million for the quarter, compared to the consensus estimate of $45.41 million. Acadia Realty Trust had a net margin of 27.19% and a return on equity of 2.92%. The firm’s revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. Equities research analysts expect that Acadia Realty Trust will post $0.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.04 annualized dividend and a yield of 3.79%. Acadia Realty Trust’s payout ratio is 140.54%.
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A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. BMO Capital Markets reiterated a “buy” rating and set a $36.00 target price on shares of Acadia Realty Trust in a report on Wednesday, June 21st. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, March 31st. TheStreet lowered shares of Acadia Realty Trust from a “b-” rating to a “c” rating in a report on Monday, April 24th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $30.00 target price (down from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Acadia Realty Trust has an average rating of “Hold” and a consensus price target of $35.75.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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