Fmr LLC Purchases 7,124,403 Shares of Acadia Realty Trust (NYSE:AKR)

FMR LLC raised its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 290.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,578,771 shares of the real estate investment trust's stock after purchasing an additional 7,124,403 shares during the quarter. FMR LLC owned about 8.01% of Acadia Realty Trust worth $224,910,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in 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 acquiring an additional 572 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Acadia Realty Trust in the third quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust's stock valued at $93,000 after buying an additional 1,039 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Acadia Realty Trust during the second quarter valued at about $103,000. Finally, Custom Index Systems LLC acquired a new stake in Acadia Realty Trust in the third quarter valued at $202,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Finally, Compass Point raised shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.60.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock traded down $0.32 during midday trading on Tuesday, reaching $25.31. The company had a trading volume of 254,436 shares, compared to its average volume of 1,015,566. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 1-year low of $15.48 and a 1-year high of $26.29. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 281.22, a price-to-earnings-growth ratio of 6.53 and a beta of 1.47. The stock has a fifty day simple moving average of $24.33 and a 200 day simple moving average of $21.38.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.00%. Acadia Realty Trust's dividend payout ratio is presently 844.44%.

Acadia Realty Trust 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.