Acadia Realty Trust (AKR) Sees Large Volume Increase
Acadia Realty Trust (NYSE:AKR) shares saw strong trading volume on Friday . 493,619 shares changed hands during trading, an increase of 6% from the previous session’s volume of 464,058 shares.The stock last traded at $36.62 and had previously closed at $35.96.
Several equities research analysts have issued reports on the company. Zacks Investment Research raised Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday. Citigroup Inc. reissued a “buy” rating on shares of Acadia Realty Trust in a research note on Monday, April 4th. Finally, Boenning Scattergood reissued an “outperform” rating and set a $38.00 target price on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $39.67.
The stock has a 50 day moving average of $34.41 and a 200-day moving average of $33.81. The firm has a market capitalization of $2.63 billion and a P/E ratio of 33.21.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. During the same period last year, the firm earned $0.32 EPS. The firm had revenue of $52.70 million for the quarter, compared to analysts’ expectations of $40.70 million. Acadia Realty Trust’s revenue was up .4% compared to the same quarter last year. Equities analysts expect that Acadia Realty Trust will post $1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Tuesday, June 28th.
In other news, SVP Robert Masters sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $35.20, for a total transaction of $211,200.00. Following the sale, the senior vice president now owns 11,386 shares of the company’s stock, valued at approximately $400,787.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of large investors recently bought and sold shares of the stock. Nationwide Fund Advisors raised its stake in Acadia Realty Trust by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 59,749 shares of the real estate investment trust’s stock worth $1,981,000 after buying an additional 522 shares during the last quarter. First Trust Advisors LP raised its stake in Acadia Realty Trust by 236.6% in the fourth quarter. First Trust Advisors LP now owns 84,701 shares of the real estate investment trust’s stock worth $2,808,000 after buying an additional 59,534 shares during the last quarter. Rhumbline Advisers raised its stake in Acadia Realty Trust by 4.6% in the fourth quarter. Rhumbline Advisers now owns 122,016 shares of the real estate investment trust’s stock worth $4,045,000 after buying an additional 5,365 shares during the last quarter. Comerica Bank raised its stake in Acadia Realty Trust by 0.7% in the fourth quarter. Comerica Bank now owns 70,367 shares of the real estate investment trust’s stock worth $2,219,000 after buying an additional 455 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Acadia Realty Trust by 3.9% in the fourth quarter. New York State Common Retirement Fund now owns 87,815 shares of the real estate investment trust’s stock worth $2,911,000 after buying an additional 3,296 shares during the last quarter.
Acadia Realty Trust is a real estate investment trust (REIT). The Trust is focused on the ownership, acquisition, redevelopment and management of retail properties located in metropolitan areas in the United States. The Trust’s Core Portfolio consists of street retail and urban assets, as well as suburban properties located in high-barrier-to-entry, densely-populated trade areas.
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