Ameriprise Financial Inc. Has $12.56 Million Stake in Acadia Realty Trust (AKR)
Ameriprise Financial Inc. lessened its stake in shares of Acadia Realty Trust (NYSE:AKR) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 451,807 shares of the real estate investment trust’s stock after selling 141 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.54% of Acadia Realty Trust worth $12,562,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its stake in shares of Acadia Realty Trust by 135.5% during the second quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 3,116 shares during the period. GAM Holding AG boosted its stake in shares of Acadia Realty Trust by 5.5% during the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 356 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Acadia Realty Trust by 14.8% during the second quarter. Daiwa Securities Group Inc. now owns 7,741 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 1,000 shares during the period. Jane Street Group LLC purchased a new stake in shares of Acadia Realty Trust during the first quarter valued at approximately $344,000. Finally, Tudor Investment Corp ET AL boosted its stake in shares of Acadia Realty Trust by 6.8% during the first quarter. Tudor Investment Corp ET AL now owns 12,218 shares of the real estate investment trust’s stock valued at $367,000 after purchasing an additional 778 shares during the period.
Shares of Acadia Realty Trust (AKR) opened at 29.60 on Monday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 45.82 and a beta of 0.60. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $35.46. The stock’s 50 day moving average price is $29.08 and its 200-day moving average price is $28.92.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The company had revenue of $59.50 million during the quarter, compared to analysts’ expectations of $53.72 million. During the same quarter in the previous year, the business earned $0.37 EPS. Acadia Realty Trust’s revenue was up 35.2% compared to the same quarter last year. On average, equities research analysts forecast that Acadia Realty Trust will post $0.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Thursday, September 28th. Acadia Realty Trust’s payout ratio is currently 162.50%.
AKR has been the subject of a number of analyst reports. Boenning Scattergood set a $35.00 price objective on Acadia Realty Trust and gave the company a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub raised Acadia Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. BMO Capital Markets reissued a “buy” rating and set a $36.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, June 21st. Finally, KeyCorp dropped their price objective on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, June 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Acadia Realty Trust currently has a consensus rating of “Buy” and an average price target of $33.50.
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About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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