JPMorgan Chase & Co. Acquires 78,169 Shares of Acadia Realty Trust (AKR)
JPMorgan Chase & Co. raised its stake in Acadia Realty Trust (NYSE:AKR) by 252.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,112 shares of the real estate investment trust’s stock after buying an additional 78,169 shares during the period. JPMorgan Chase & Co. owned about 0.14% of Acadia Realty Trust worth $3,875,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in AKR. Aperio Group LLC increased its position in Acadia Realty Trust by 21.8% in the first quarter. Aperio Group LLC now owns 21,401 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 3,827 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Acadia Realty Trust by 1.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,891 shares of the real estate investment trust’s stock valued at $734,000 after buying an additional 325 shares in the last quarter. BlackRock Inc. boosted its stake in Acadia Realty Trust by 12.2% in the first quarter. BlackRock Inc. now owns 68,884 shares of the real estate investment trust’s stock valued at $2,420,000 after buying an additional 7,466 shares in the last quarter. BlackRock Group LTD boosted its stake in Acadia Realty Trust by 3.6% in the first quarter. BlackRock Group LTD now owns 524,664 shares of the real estate investment trust’s stock valued at $18,432,000 after buying an additional 18,044 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Acadia Realty Trust by 0.5% in the first quarter. BlackRock Fund Advisors now owns 4,280,116 shares of the real estate investment trust’s stock worth $150,360,000 after buying an additional 22,911 shares during the period. 99.04% of the stock is currently owned by institutional investors.
Shares of Acadia Realty Trust (NYSE:AKR) traded up 0.87% during trading on Monday, reaching $34.90. 9,602 shares of the company were exchanged. The company has a 50 day moving average price of $35.93 and a 200-day moving average price of $35.31. Acadia Realty Trust has a one year low of $30.25 and a one year high of $38.01. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 36.09 and a beta of 0.67.
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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. The business had revenue of $51.30 million for the quarter, compared to the consensus estimate of $40.51 million. During the same period in the previous year, the company posted $0.48 earnings per share. Acadia Realty Trust’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities analysts predict that Acadia Realty Trust will post $1.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%. Acadia Realty Trust’s payout ratio is 103.09%.
AKR has been the subject of a number of analyst reports. Citigroup Inc. lifted their target price on shares of Acadia Realty Trust from $40.50 to $41.50 and gave the company a “buy” rating in a research note on Friday, August 12th. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 target price 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 target price for the company in a research note on Wednesday, July 6th. BTIG Research initiated coverage on shares of Acadia Realty Trust in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Acadia Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $40.10.
In other Acadia Realty Trust news, insider Joel L. Braun sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $37.60, for a total transaction of $827,200.00. Following the completion of the transaction, the insider now owns 24,109 shares of the company’s stock, valued at approximately $906,498.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lee S. Wielansky sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $37.03, for a total value of $444,360.00. The disclosure for this sale can be found here. Corporate insiders own 2.22% of the company’s stock.
About Acadia Realty Trust
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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