Acadia Realty Trust (NYSE:AKR) shares dropped 1.7% on Thursday . The stock traded as low as $36.03 and last traded at $36.25, with a volume of 731,185 shares. The stock had previously closed at $36.89.

AKR has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 price target on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 6th. Finally, Boenning Scattergood reiterated an “outperform” rating and issued a $38.00 price target on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.75.

The firm has a market cap of $2.75 billion and a PE ratio of 37.64. The stock’s 50 day moving average is $36.33 and its 200 day moving average is $34.55.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. During the same period in the previous year, the business posted $0.48 earnings per share. The company had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $40.51 million. Acadia Realty Trust’s revenue was down 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Acadia Realty Trust will post $1.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.75%.

In related news, Director Lee S. Wielansky sold 12,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $37.03, for a total transaction of $444,360.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joel L. Braun sold 22,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $37.60, for a total transaction of $827,200.00. Following the sale, the insider now owns 24,109 shares in the company, valued at approximately $906,498.40. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department purchased a new stake in Acadia Realty Trust during the fourth quarter valued at approximately $1,770,000. 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. Vanguard Group Inc. raised its stake in Acadia Realty Trust by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 10,336,684 shares of the real estate investment trust’s stock valued at $342,661,000 after buying an additional 337,271 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, State of New Jersey Common Pension Fund D raised its stake in Acadia Realty Trust by 1.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 475,746 shares of the real estate investment trust’s stock valued at $15,771,000 after buying an additional 5,000 shares in the last quarter.

Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.

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