Acadia Realty Trust (NYSE:AKR)’s share price dropped 1.7% during mid-day trading 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 topic of several research reports. Boenning Scattergood reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Acadia Realty Trust in a report on Tuesday, June 28th. Zacks Investment Research raised Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, July 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price objective on shares of Acadia Realty Trust in a report on Wednesday, July 27th. Finally, Citigroup Inc. raised their price objective on Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $40.10.

The stock has a 50-day moving average price of $36.39 and a 200-day moving average price of $34.58. The company has a market cap of $2.76 billion and a PE ratio of 37.68.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $51.30 million for the quarter, compared to analyst estimates of $40.51 million. The company’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, equities research analysts expect that Acadia Realty Trust will post $1.58 EPS for the current 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 is Wednesday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.74%.

In related news, insider Joel L. Braun sold 22,000 shares of Acadia Realty Trust 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 transaction, the insider now owns 24,109 shares in the company, valued at approximately $906,498.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William T. Spitz sold 10,000 shares of Acadia Realty Trust stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $37.25, for a total transaction of $372,500.00. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund raised its position in shares of 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 in the last quarter. Vanguard Group Inc. raised its position in shares of 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 worth $342,661,000 after buying an additional 337,271 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of 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 worth $1,054,000 after buying an additional 14,400 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Acadia Realty Trust by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 463,826 shares of the real estate investment trust’s stock worth $15,375,000 after buying an additional 20,607 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of 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 worth $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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