The Vanguard Group, Inc. has recently announced that it has increased stake in Acadia Realty Trust (NYSE:AKR) by 1.85%. After grabbing 15.39 million shares, the institutional investor is now in possession of 0.28 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 16.21% having worth around $224.25 million. Moreover, Cohen & Steers Capital Management increased its share by 0.22 million to have a control over 14.62 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.35 million shares by acquiring 6.23 million shares or 6.56% of the stake.
Acadia Realty Trust (AKR) concluded trading on 03/16/23 at a closing price of $13.64, with 2.14 million shares of worth about $29.23 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.67% during that period and on Thursday the price saw a loss of about -0.51%. Currently the company’s common shares owned by public are about 96.27M shares, out of which, 95.53M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 12 times over the past 12 months. They bought 37,368 shares in 9 of the transactions. In 3 selling transactions, insiders dumped 3,107 shares.
Cohen & Steers Real Estate Securi, iShares Core S&P Small Cap ETF, and Vanguard Real Estate Index Fund are the top 3 mutual funds which are holding stakes in Acadia Realty Trust Cohen & Steers Real Estate Securi is currently holding 8.93 million shares of worth totaling $130.15 million. The company recently came buying 92255.0 shares which brought its stake up to 9.41% of the company’s outstanding shares. Vanguard Real Estate Index Fund, after buying 4.24 million shares, have now control over 4.46% of the stake in the company. It holds 2520.0 shares of worth $61.76 million.
Acadia Realty Trust (NYSE: AKR) started trading at $13.61, below -$0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 13.97, or with a loss of -0.51%. Stock saw a price change of -1.09% in past 5 days and over the past one month there was a price change of -9.01%. Year-to-date (YTD), AKR shares are showing a performance of -4.95% which decreased to -36.73% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.28 but also hit the highest price of $22.63 during that period. The average intraday trading volume for Acadia Realty Trust shares is 578.32K. The stock is currently trading -4.92% below its 20-day simple moving average (SMA20), while that difference is down -7.59% for SMA50 and it goes to -10.70% lower than SMA200.
The Vanguard Group, Inc. acquired 15.39 million shares of Acadia Realty Trust having value of about $224.25 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.28 million shares in the company valued at close to $3819350.04, or have control over 1.85% stake in the company. Holding of mutual funds in the company is about 39.68% while other institutional holders and individual stake holders have control over 64.69% and 3.21% of the stake respectively.
The stock has a current market capitalization of $1.37B and its 3Y-monthly beta is at 1.51. It has posted earnings per share of -$0.38 in the same period. It has a debt-to-equity ratio of 1.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AKR, volatility over the week remained 4.27% while standing at 2.94% over the month.
Analysts are in expectations that Acadia Realty Trust (AKR) stock would likely to be making an EPS of $0.02 in the current quarter, while forecast for next quarter EPS is $0.01 and it is $0.09 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is $0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -246.60% while it is estimated to increase by 22.22% in next year. EPS is likely to grow at an annualized rate of 3.00% for next 5-years, compared to annual growth of -20.40% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by KeyBanc Capital Markets on December 14, 2022 offering a Sector weight rating for the stock and assigned a target price range of between $17 and $16 to it. Coverage by Citigroup stated Acadia Realty Trust (AKR) stock as a Buy in their note to investors on September 19, 2022, suggesting a price target of $17 for the stock. On June 30, 2022, Jefferies Downgrade their recommendations, while on June 24, 2021, Truist Upgrade their ratings for the stock with a price target of $25. Stock get a Neutral rating from BofA Securities on January 19, 2021.
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