Acadia Realty Trust (AKR) Sees Large Volume Increase
Acadia Realty Trust (NYSE:AKR) shares saw unusually-high trading volume on Friday . Approximately 493,619 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 464,058 shares.The stock last traded at $36.62 and had previously closed at $35.96.
AKR has been the subject of a number of research reports. Boenning Scattergood reissued an “outperform” rating and issued a $38.00 price objective on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. Zacks Investment Research upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday. Finally, Citigroup Inc. restated a “buy” rating on shares of Acadia Realty Trust in a report on Monday, April 4th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Acadia Realty Trust currently has a consensus rating of “Buy” and a consensus price target of $39.67.
The firm’s 50-day moving average price is $34.41 and its 200-day moving average price is $33.81. The company has a market cap of $2.63 billion and a P/E ratio of 33.21.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $52.70 million for the quarter, compared to the consensus estimate of $40.70 million. During the same period in the previous year, the company earned $0.32 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts forecast that Acadia Realty Trust will post $1.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, June 28th.
In other Acadia Realty Trust news, SVP Robert Masters sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 11,386 shares of the company’s stock, valued at approximately $400,787.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position 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 worth $1,054,000 after buying an additional 14,400 shares during the last quarter. Nationwide Fund Advisors raised its position 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 worth $1,981,000 after buying an additional 522 shares during the last quarter. Comerica Bank raised its position 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 worth $2,219,000 after buying an additional 455 shares during the last quarter. First Trust Advisors LP raised 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 worth $2,808,000 after buying an additional 59,534 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position 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 worth $2,911,000 after buying an additional 3,296 shares during 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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