Acadia Realty Trust (AKR) Position Increased by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. boosted its holdings in Acadia Realty Trust (NYSE:AKR) by 24.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,750,851 shares of the real estate investment trust’s stock after buying an additional 1,118,734 shares during the quarter. Goldman Sachs Group Inc. owned approximately 6.87% of Acadia Realty Trust worth $159,874,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Acadia Realty Trust by 10.3% in the first quarter. Bank of America Corp DE now owns 598,036 shares of the real estate investment trust’s stock valued at $17,978,000 after acquiring an additional 56,015 shares during the last quarter. Westpac Banking Corp raised its stake in Acadia Realty Trust by 36.1% during the second quarter. Westpac Banking Corp now owns 453,919 shares of the real estate investment trust’s stock worth $12,619,000 after acquiring an additional 120,472 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Acadia Realty Trust by 7.7% during the second quarter. Russell Investments Group Ltd. now owns 129,661 shares of the real estate investment trust’s stock worth $3,618,000 after acquiring an additional 9,250 shares in the last quarter. Ranger Global Real Estate Advisors LLC acquired a new position in Acadia Realty Trust during the first quarter worth about $5,058,000. Finally, Legal & General Group Plc raised its stake in Acadia Realty Trust by 13.6% during the second quarter. Legal & General Group Plc now owns 668,435 shares of the real estate investment trust’s stock worth $18,585,000 after acquiring an additional 80,206 shares in the last quarter.
Shares of Acadia Realty Trust (AKR) traded down 0.17% during trading on Monday, reaching $28.57. The company’s stock had a trading volume of 76,896 shares. The stock’s 50-day moving average is $29.21 and its 200-day moving average is $29.03. The stock has a market cap of $2.39 billion, a P/E ratio of 44.23 and a beta of 0.60. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $36.70.
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, topping analysts’ consensus estimates of $0.08 by $0.29. Acadia Realty Trust had a net margin of 23.63% and a return on equity of 2.50%. The company had revenue of $59.50 million during the quarter, compared to the consensus estimate of $53.72 million. During the same period in the previous year, the firm posted $0.37 EPS. The firm’s revenue was up 35.2% compared to the same quarter last year. Equities research analysts anticipate that Acadia Realty Trust will post $0.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 3.63%. Acadia Realty Trust’s dividend payout ratio is presently 162.50%.
A number of research analysts have recently commented on AKR shares. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 target price (down previously from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. BidaskClub raised shares of Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $36.00 price target on shares of Acadia Realty Trust in a report on Wednesday, June 21st. KeyCorp lowered their price objective on shares of Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. Finally, Zacks Investment Research cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.60.
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Acadia Realty Trust Profile
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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