Acadia Realty Trust (AKR) Hits New 52-Week High at $37.08
Acadia Realty Trust (NYSE:AKR)’s share price hit a new 52-week high on Friday . The company traded as high as $37.08 and last traded at $37.08, with a volume of 42,790 shares changing hands. The stock had previously closed at $36.71.
AKR has been the subject of a number of analyst reports. Zacks Investment Research raised 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. Citigroup Inc. reaffirmed a “buy” rating on shares of Acadia Realty Trust in a research note on Monday, April 4th. Finally, Boenning Scattergood reiterated an “outperform” rating and set a $38.00 price target on shares of Acadia Realty Trust in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.67.
The stock has a market cap of $2.66 billion and a PE ratio of 33.61. The company’s 50 day moving average price is $35.14 and its 200-day moving average price is $34.02.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. During the same period last year, the firm earned $0.32 earnings per share. The company earned $52.70 million during the quarter, compared to analysts’ expectations of $40.70 million. Acadia Realty Trust’s quarterly revenue was up .4% on a year-over-year basis. On average, equities analysts forecast that Acadia Realty Trust will post $1.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.00 annualized dividend and a yield of 2.72%.
In other Acadia Realty Trust news, SVP Robert Masters sold 6,000 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $35.20, for a total value of $211,200.00. Following the completion of the sale, the senior vice president now directly owns 11,386 shares of the company’s stock, valued at approximately $400,787.20. The transaction was disclosed in a filing with the SEC, which is available through this link.
Other large investors recently added to or reduced their stakes in the company. State of Tennessee Treasury Department bought a new stake in Acadia Realty Trust during the fourth quarter valued at about $1,770,000. State of New Jersey Common Pension Fund D boosted 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 during the period. Principal Financial Group Inc. boosted its stake 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 during the period. Cornerstone Real Estate Advisers LLC boosted its stake 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 during the period. Finally, GSA Capital Partners LLP boosted 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 during the period.
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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