According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “
A number of other research analysts have also commented on AKR. Citigroup set a $30.00 price objective on Acadia Realty Trust and gave the company a hold rating in a report on Monday, May 20th. ValuEngine lowered Acadia Realty Trust from a buy rating to a hold rating in a report on Friday, March 1st.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.22). Acadia Realty Trust had a return on equity of 1.71% and a net margin of 13.17%. The firm had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $51.36 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, research analysts forecast that Acadia Realty Trust will post 1.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, June 27th. Acadia Realty Trust’s dividend payout ratio is 82.96%.
In other news, VP Jason Blacksberg sold 2,477 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $28.86, for a total transaction of $71,486.22. Following the transaction, the vice president now owns 2,477 shares of the company’s stock, valued at approximately $71,486.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Conlon sold 20,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $27.83, for a total value of $556,600.00. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $278,300. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,574 shares of company stock worth $801,806. 2.47% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKR. Norges Bank acquired a new stake in Acadia Realty Trust in the 4th quarter valued at approximately $24,002,000. Oregon Public Employees Retirement Fund acquired a new stake in Acadia Realty Trust in the 4th quarter valued at approximately $31,000. Heitman Real Estate Securities LLC grew its holdings in Acadia Realty Trust by 73.8% in the 1st quarter. Heitman Real Estate Securities LLC now owns 1,449,774 shares of the real estate investment trust’s stock valued at $39,535,000 after buying an additional 615,581 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Acadia Realty Trust by 5.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,544,519 shares of the real estate investment trust’s stock valued at $151,199,000 after buying an additional 286,631 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Acadia Realty Trust by 1.8% in the 4th quarter. BlackRock Inc. now owns 14,350,231 shares of the real estate investment trust’s stock valued at $340,961,000 after buying an additional 250,849 shares during the last quarter.
About Acadia Realty Trust
Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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