Citigroup Inc. Grows Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Citigroup Inc. lifted its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,764 shares of the real estate investment trust's stock after acquiring an additional 21,532 shares during the period. Citigroup Inc. owned approximately 0.13% of Acadia Realty Trust worth $3,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Acadia Realty Trust by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust's stock valued at $45,331,000 after buying an additional 83,180 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Acadia Realty Trust by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust's stock worth $26,337,000 after buying an additional 75,233 shares during the period. Bank of New York Mellon Corp raised its stake in Acadia Realty Trust by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust's stock worth $21,090,000 after buying an additional 8,739 shares during the period. APG Asset Management US Inc. acquired a new position in Acadia Realty Trust during the 2nd quarter worth approximately $18,070,000. Finally, Rhumbline Advisers raised its stake in Acadia Realty Trust by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 345,377 shares of the real estate investment trust's stock worth $6,189,000 after buying an additional 8,596 shares during the period. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Performance

NYSE AKR traded up $0.08 on Thursday, hitting $25.51. 818,339 shares of the stock traded hands, compared to its average volume of 1,017,207. The business's fifty day moving average is $24.42 and its two-hundred day moving average is $21.47. Acadia Realty Trust has a 12 month low of $15.48 and a 12 month high of $26.29. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 282.00, a PEG ratio of 6.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its 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). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company 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 company earned $0.27 EPS. The company's revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.98%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 844.44%.

Wall Street Analysts Forecast Growth

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