Price T Rowe Associates Inc. MD Has $150.51 Million Stock Position in Acadia Realty Trust (NYSE:AKR)

Price T Rowe Associates Inc. MD increased its holdings in Acadia Realty Trust (NYSE:AKR) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,848,246 shares of the real estate investment trust’s stock after acquiring an additional 388,067 shares during the period. Price T Rowe Associates Inc. MD owned about 8.58% of Acadia Realty Trust worth $150,511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. raised its holdings in shares of Acadia Realty Trust by 5.2% in the 4th quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Acadia Realty Trust by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,682,989 shares of the real estate investment trust’s stock worth $28,594,000 after purchasing an additional 54,996 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Acadia Realty Trust by 4.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 113,776 shares of the real estate investment trust’s stock worth $1,933,000 after purchasing an additional 4,800 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Acadia Realty Trust in the 1st quarter worth about $260,000. Finally, Asset Management One Co. Ltd. grew its position in Acadia Realty Trust by 2.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 147,146 shares of the real estate investment trust’s stock worth $2,546,000 after purchasing an additional 3,218 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust presently has an average rating of “Hold” and an average target price of $18.40.

Acadia Realty Trust Stock Performance

AKR traded down $0.02 on Monday, hitting $20.42. The company’s stock had a trading volume of 163,822 shares, compared to its average volume of 1,017,680. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $20.63. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.11 billion, a P/E ratio of 255.50, a price-to-earnings-growth ratio of 5.38 and a beta of 1.46. The company’s 50 day simple moving average is $17.97 and its 200-day simple moving average is $17.27.

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

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 900.00%.

Insider Activity

In related news, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John J. Gottfried sold 12,500 shares of the 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 transaction, the chief financial officer now directly owns 7,600 shares in the company, valued at approximately $128,364. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.

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 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.