Wolverine Asset Management LLC Sells 9,768 Shares of Acadia Realty Trust (NYSE:AKR)

Wolverine Asset Management LLC lessened its holdings in Acadia Realty Trust (NYSE:AKR) by 86.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AKR. Mirae Asset Global Investments Co. Ltd. grew its position in Acadia Realty Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,039 shares during the last quarter. USA Financial Formulas grew its position in Acadia Realty Trust by 14.4% in the 4th 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. KBC Group NV grew its position in 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 last quarter. Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust during the 3rd quarter worth $202,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Acadia Realty Trust during the 3rd quarter worth $202,000. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Price Performance

AKR opened at $23.09 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 128.25, a PEG ratio of 6.14 and a beta of 1.46. Acadia Realty Trust has a 12-month low of $16.09 and a 12-month high of $26.29. The business’s fifty day simple moving average is $23.38 and its 200-day simple moving average is $23.60.

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

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.20 per share. This is a boost 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 3.47%. The ex-dividend date is Monday, March 31st. Acadia Realty Trust’s dividend payout ratio is 422.22%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AKR. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial increased their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Acadia Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $23.00.

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.