Contravisory Investment Management Inc. Takes Position in Acadia Realty Trust (NYSE:AKR)

Contravisory Investment Management Inc. acquired a new position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,298 shares of the real estate investment trust's stock, valued at approximately $297,000.

Other hedge funds also recently modified their holdings of the company. FMR LLC increased its position in Acadia Realty Trust by 290.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Acadia Realty Trust by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust's stock valued at $62,033,000 after purchasing an additional 63,672 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 worth $45,331,000 after purchasing an additional 83,180 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 in the last quarter. Finally, APG Asset Management US Inc. bought a new position in Acadia Realty Trust in the 2nd quarter valued at $18,070,000. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Trading Down 1.1 %

AKR traded down $0.26 during mid-day trading on Friday, hitting $22.64. The stock had a trading volume of 551,136 shares, compared to its average volume of 988,063. The stock's fifty day simple moving average is $24.47 and its 200-day simple moving average is $22.92. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 251.59, a price-to-earnings-growth ratio of 5.34 and a beta of 1.47. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. 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 (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 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 business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Tuesday, December 31st. Acadia Realty Trust's payout ratio is currently 844.44%.

Analyst Upgrades and Downgrades

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

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.