Vestcor Inc Acquires 3,308 Shares of Acadia Realty Trust (NYSE:AKR)

Vestcor Inc increased its stake in shares of Acadia Realty Trust (NYSE:AKR) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,980 shares of the real estate investment trust’s stock after acquiring an additional 3,308 shares during the quarter. Vestcor Inc owned about 0.08% of Acadia Realty Trust worth $2,319,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jane Street Group LLC grew its position in Acadia Realty Trust by 3.6% in the 3rd quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock worth $2,358,000 after purchasing an additional 3,453 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Acadia Realty Trust during the third quarter worth about $202,000. Contravisory Investment Management Inc. bought a new position in Acadia Realty Trust during the fourth quarter valued at about $297,000. KBC Group NV increased its stake in Acadia Realty Trust by 44.1% during the fourth 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. Finally, Barclays PLC raised its holdings in Acadia Realty Trust by 11.8% in the 3rd quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after acquiring an additional 81,853 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

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 shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AKR has been the topic of several recent research reports. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial lifted their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of “Hold” and a consensus target price of $23.00.

Acadia Realty Trust Stock Up 1.6 %

NYSE AKR opened at $21.33 on Friday. Acadia Realty Trust has a 1-year low of $16.10 and a 1-year high of $26.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $22.91 and its two-hundred day moving average is $23.65. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 118.47, a PEG ratio of 6.09 and a beta of 1.49.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly 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 return on equity of 0.88% and a net margin of 5.74%. Equities analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio (DPR) is 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.