Wells Fargo & Company MN Has $10.71 Million Stake in Acadia Realty Trust (AKR)
Wells Fargo & Company MN lifted its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 176.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 374,263 shares of the real estate investment trust’s stock after acquiring an additional 238,806 shares during the quarter. Wells Fargo & Company MN owned 0.45% of Acadia Realty Trust worth $10,712,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Acadia Realty Trust by 385.2% in the third quarter. JPMorgan Chase & Co. now owns 1,579,408 shares of the real estate investment trust’s stock valued at $45,377,000 after buying an additional 1,253,864 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Acadia Realty Trust by 24.2% in the second quarter. Goldman Sachs Group Inc. now owns 5,750,851 shares of the real estate investment trust’s stock valued at $159,874,000 after buying an additional 1,118,734 shares during the last quarter. Vanguard Group Inc. increased its holdings in Acadia Realty Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 13,739,896 shares of the real estate investment trust’s stock valued at $381,969,000 after buying an additional 487,984 shares during the last quarter. FMR LLC increased its holdings in Acadia Realty Trust by 3.3% in the second quarter. FMR LLC now owns 11,066,494 shares of the real estate investment trust’s stock valued at $307,648,000 after buying an additional 348,630 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Acadia Realty Trust in the second quarter valued at about $8,804,000.
Several brokerages recently weighed in on AKR. Boenning Scattergood set a $35.00 price objective on Acadia Realty Trust and gave the company a “buy” rating in a report on Wednesday, December 6th. KeyCorp lowered Acadia Realty Trust from an “overweight” rating to a “hold” rating in a report on Monday, November 20th. Finally, Zacks Investment Research lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.50.
Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $51.70 million during the quarter, compared to analyst estimates of $55.94 million. Acadia Realty Trust had a return on equity of 2.77% and a net margin of 25.34%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. sell-side analysts predict that Acadia Realty Trust will post 1.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 3.92%. Acadia Realty Trust’s dividend payout ratio is 146.48%.
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About Acadia Realty Trust
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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