GW&K Investment Management LLC Buys Shares of 136,230 Acadia Realty Trust (NYSE:AKR)

GW&K Investment Management LLC acquired a new stake in Acadia Realty Trust (NYSE:AKR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 136,230 shares of the real estate investment trust’s stock, valued at approximately $2,315,000.

A number of other institutional investors have also recently made changes to their positions in AKR. Norges Bank purchased a new stake in shares of Acadia Realty Trust during the fourth quarter worth $10,414,000. Tudor Investment Corp Et Al acquired a new position in shares of Acadia Realty Trust during the third quarter worth about $2,984,000. GSA Capital Partners LLP purchased a new stake in shares of Acadia Realty Trust during the third quarter worth approximately $2,297,000. Vanguard Group Inc. increased its stake in shares of Acadia Realty Trust by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock worth $223,316,000 after buying an additional 118,807 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Acadia Realty Trust by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,627,993 shares of the real estate investment trust’s stock valued at $23,362,000 after acquiring an additional 67,141 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Down 0.4 %

AKR stock opened at $16.81 on Thursday. The stock has a market cap of $1.73 billion, a P/E ratio of 210.06, a PEG ratio of 4.45 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Acadia Realty Trust has a twelve month low of $12.37 and a twelve month high of $17.90. The company’s 50 day moving average is $16.91 and its two-hundred day moving average is $16.57.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The company had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same period last year, the firm earned $0.40 earnings per share. Acadia Realty Trust’s revenue was up 11.6% on a year-over-year basis. Research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is 900.00%.

Wall Street Analyst Weigh In

Separately, Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $20.00 in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Insider Buying and Selling at Acadia Realty Trust

In related news, CFO John J. Gottfried sold 12,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total value of $211,125.00. Following the completion of the sale, the chief financial officer now owns 7,600 shares in the company, valued at approximately $128,364. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Richard Hartmann sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the transaction, the chief financial officer now directly owns 7,600 shares in the company, valued at $128,364. The disclosure for this sale can be found here. 2.83% of the stock is owned by company insiders.

Acadia Realty Trust Company Profile

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.