Geode Capital Management LLC Purchases 63,672 Shares of Acadia Realty Trust (NYSE:AKR)

Geode Capital Management LLC grew its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,641,495 shares of the real estate investment trust's stock after buying an additional 63,672 shares during the period. Geode Capital Management LLC owned approximately 2.21% of Acadia Realty Trust worth $62,033,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust's stock valued at $224,910,000 after acquiring an additional 7,124,403 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of Acadia Realty Trust during the 2nd quarter valued at about $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Acadia Realty Trust by 381.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust's stock valued at $15,422,000 after buying an additional 520,319 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Acadia Realty Trust in the 2nd quarter worth approximately $5,090,000. Finally, Renaissance Technologies LLC boosted its stake in Acadia Realty Trust by 173.8% in the second quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust's stock worth $4,745,000 after buying an additional 168,100 shares in the last quarter. Institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Trading Down 0.3 %

Acadia Realty Trust stock traded down $0.08 during trading hours on Friday, reaching $23.89. The stock had a trading volume of 10,368,233 shares, compared to its average volume of 1,161,057. The stock has a market cap of $2.86 billion, a PE ratio of 265.44, a PEG ratio of 6.41 and a beta of 1.46. The company has a fifty day simple moving average of $24.87 and a 200-day simple moving average of $22.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. Acadia Realty Trust has a 52 week low of $16.09 and a 52 week high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million for the quarter, compared to analysts' expectations of $70.88 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. Analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust's payout ratio is 844.44%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AKR shares. Compass Point upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial boosted their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Finally, StockNews.com cut Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Acadia Realty Trust currently has a consensus rating of "Hold" and a consensus target price of $22.40.

Acadia Realty Trust Company Profile

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.