Acadia Realty Trust (AKR) Hits New 52-Week High at $36.80
Acadia Realty Trust (NYSE:AKR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $36.80 and last traded at $36.75, with a volume of 219,835 shares changing hands. The stock had previously closed at $36.66.
AKR has been the subject of several analyst reports. Citigroup Inc. reiterated a “buy” rating on shares of Acadia Realty Trust in a research note on Monday, April 4th. Boenning Scattergood reiterated an “outperform” rating and issued a $38.00 target price on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. Finally, Zacks Investment Research upgraded 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, July 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.67.
The stock’s 50 day moving average price is $34.41 and its 200-day moving average price is $33.81. The stock has a market capitalization of $2.64 billion and a PE ratio of 33.41.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. During the same period in the previous year, the business posted $0.32 earnings per share. The firm had revenue of $52.70 million for the quarter, compared to the consensus estimate of $40.70 million. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts forecast that Acadia Realty Trust will post $1.58 EPS for the current year.
The business also recently disclosed 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 of this dividend is Tuesday, June 28th.
In other news, SVP Robert Masters sold 6,000 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 11,386 shares of the company’s stock, valued at approximately $400,787.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Other large investors recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its stake in Acadia Realty Trust by 82.8% in the fourth quarter. GSA Capital Partners LLP now owns 31,801 shares of the real estate investment trust’s stock valued at $1,054,000 after buying an additional 14,400 shares in the last quarter. 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 valued at $1,981,000 after buying an additional 522 shares in 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 valued at $2,219,000 after buying an additional 455 shares in 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 valued at $2,808,000 after buying an additional 59,534 shares in 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 valued at $2,911,000 after buying an additional 3,296 shares in 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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