Advisors Asset Management Inc. Trims Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Advisors Asset Management Inc. lessened its position in shares of Acadia Realty Trust (NYSE:AKR) by 6.9% during the 3rd quarter, Holdings Channel reports. The firm owned 117,024 shares of the real estate investment trust’s stock after selling 8,693 shares during the quarter. Advisors Asset Management Inc.’s holdings in Acadia Realty Trust were worth $2,748,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of AKR. Asset Management One Co. Ltd. lifted its holdings in Acadia Realty Trust by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock valued at $3,725,000 after acquiring an additional 476 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Acadia Realty Trust by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock valued at $1,614,000 after purchasing an additional 531 shares during the period. GAMMA Investing LLC lifted its stake in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 572 shares during the period. IFM Investors Pty Ltd increased its holdings in Acadia Realty Trust by 2.5% in the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 582 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Acadia Realty Trust by 2.6% in the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 724 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AKR. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Truist Financial lifted their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Stock Up 0.9 %

Acadia Realty Trust stock opened at $25.22 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a 50 day moving average price of $23.97 and a 200 day moving average price of $20.99. Acadia Realty Trust has a fifty-two week low of $14.72 and a fifty-two week high of $25.58. The company has a market capitalization of $3.02 billion, a PE ratio of 280.22, a price-to-earnings-growth ratio of 6.32 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. Research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 3.01%. Acadia Realty Trust’s dividend payout ratio (DPR) is 844.44%.

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.