Acadia Realty Trust (AKR) Sees Strong Trading Volume
Acadia Realty Trust (NYSE:AKR) saw unusually-strong trading volume on Tuesday . Approximately 2,155,950 shares were traded during mid-day trading, an increase of 410% from the previous session’s volume of 422,859 shares.The stock last traded at $36.21 and had previously closed at $36.27.
A number of research firms have recently weighed in on AKR. Boenning Scattergood reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Acadia Realty Trust in a research 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 target price on the stock in a research note on Wednesday, July 6th. Finally, BMO Capital Markets reissued a “buy” rating and set a $40.00 target price on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.75.
The stock’s 50-day moving average price is $36.26 and its 200-day moving average price is $34.54. The firm has a market capitalization of $2.75 billion and a P/E ratio of 37.61.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly 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. The business earned $51.30 million during the quarter, compared to the consensus estimate of $40.51 million. During the same quarter in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities analysts expect that Acadia Realty Trust will post $1.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 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 2.71%.
In other Acadia Realty Trust news, Director William T. Spitz sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $37.25, for a total transaction of $372,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lee S. Wielansky sold 12,000 shares of the 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.
Several institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased 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 valued at $1,054,000 after buying an additional 14,400 shares during the period. State of Tennessee Treasury Department purchased a new position in Acadia Realty Trust during the fourth quarter valued at $1,770,000. First Trust Advisors LP increased 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 during the period. New York State Common Retirement Fund increased 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 valued at $2,911,000 after buying an additional 3,296 shares during the period. Finally, Principal Financial Group Inc. increased 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 during the period.
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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