Charles Schwab Investment Management Inc. boosted its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,930,601 shares of the real estate investment trust's stock after purchasing an additional 83,180 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.61% of Acadia Realty Trust worth $45,331,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 572 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust in the third quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 1,039 shares during the last quarter. SG Americas Securities LLC purchased a new position in Acadia Realty Trust during the second quarter valued at $103,000. Finally, Custom Index Systems LLC bought a new stake in Acadia Realty Trust in the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 97.65% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on AKR shares. Compass Point upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and upped their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. StockNews.com raised Acadia Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Finally, Truist Financial boosted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.
Read Our Latest Stock Report on Acadia Realty Trust
Acadia Realty Trust Stock Performance
AKR stock traded down $0.22 during trading on Monday, reaching $25.63. The company had a trading volume of 1,424,008 shares, compared to its average volume of 1,018,918. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 287.22, a price-to-earnings-growth ratio of 6.53 and a beta of 1.46. Acadia Realty Trust has a twelve month low of $15.48 and a twelve month high of $26.29. 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 simple moving average of $24.28 and a 200-day simple moving average of $21.32.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.25). The firm had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, sell-side analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.
Acadia Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust's dividend payout ratio (DPR) is presently 844.44%.
About Acadia Realty Trust
(
Free Report)
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.
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