Westpac Banking Corp increased its stake in Acadia Realty Trust (NYSE:AKR) by 4.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 291,801 shares of the real estate investment trust’s stock after buying an additional 12,500 shares during the quarter. Westpac Banking Corp’s holdings in Acadia Realty Trust were worth $7,957,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $31,000. Bank of Montreal Can lifted its holdings in Acadia Realty Trust by 68.4% during the fourth quarter. Bank of Montreal Can now owns 2,443 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 992 shares during the last quarter. Private Capital Group LLC lifted its holdings in Acadia Realty Trust by 31.5% during the first quarter. Private Capital Group LLC now owns 2,683 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 643 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Acadia Realty Trust by 3,884.3% during the first quarter. Quadrant Capital Group LLC now owns 3,307 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 3,224 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Acadia Realty Trust by 27.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,458 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 968 shares during the last quarter.
In other news, 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 sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $278,300. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jason Blacksberg sold 1,897 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $28.51, for a total transaction of $54,083.47. Following the completion of the sale, the vice president now directly owns 4,000 shares in the company, valued at $114,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,574 shares of company stock worth $801,806. Insiders own 2.47% of the company’s stock.
NYSE AKR traded up $0.04 during trading on Friday, hitting $28.23. 5,455 shares of the company’s stock traded hands, compared to its average volume of 334,275. The company has a market cap of $2.31 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.33 and a beta of 0.71. Acadia Realty Trust has a 12-month low of $23.11 and a 12-month high of $29.82. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.22). Acadia Realty Trust had a net margin of 13.17% and a return on equity of 1.71%. The business had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $51.36 million. During the same period last year, the company earned $0.33 earnings per share. Acadia Realty Trust’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Acadia Realty Trust will post 1.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, June 27th. Acadia Realty Trust’s payout ratio is 82.96%.
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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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