Acadia Realty Trust (AKR) Sets New 1-Year High at $36.27
Acadia Realty Trust (NYSE:AKR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $36.27 and last traded at $36.24, with a volume of 149,274 shares. The stock had previously closed at $35.91.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded 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. Citigroup Inc. reaffirmed a “buy” rating on shares of Acadia Realty Trust in a research report on Monday, April 4th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Acadia Realty Trust in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $39.67.
The firm has a 50-day moving average of $34.24 and a 200 day moving average of $33.77. The stock has a market cap of $2.59 billion and a price-to-earnings ratio of 32.82.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. During the same period in the prior year, the company posted $0.32 EPS. The company earned $52.70 million during the quarter, compared to the consensus estimate of $40.70 million. Acadia Realty Trust’s quarterly revenue was up .4% on a year-over-year basis. On average, equities research analysts predict that Acadia Realty Trust will post $1.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.76%.
In other Acadia Realty Trust news, SVP Robert Masters sold 6,000 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $35.20, for a total value of $211,200.00. Following the transaction, the senior vice president now owns 11,386 shares of the company’s stock, valued at $400,787.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several hedge funds and institutional investors recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position 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 boosted its position 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. Principal Financial Group Inc. boosted its position in 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 valued at $15,375,000 after buying an additional 20,607 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Acadia Realty Trust by 1.6% in the fourth quarter. OppenheimerFunds Inc. now owns 1,223,949 shares of the real estate investment trust’s stock valued at $40,574,000 after buying an additional 19,507 shares in the last quarter. Finally, Cornerstone Real Estate Advisers LLC boosted its position in Acadia Realty Trust by 10.9% in the fourth quarter. Cornerstone Real Estate Advisers LLC now owns 151,929 shares of the real estate investment trust’s stock valued at $5,036,000 after buying an additional 14,891 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.