Easterly Investment Partners LLC lessened its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 68.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 265,096 shares of the real estate investment trust's stock after selling 573,812 shares during the quarter. Easterly Investment Partners LLC owned about 0.22% of Acadia Realty Trust worth $6,224,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings 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 valued at $42,000 after buying an additional 572 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Acadia Realty Trust during the third quarter valued at approximately $80,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust during the first quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $93,000 after buying an additional 1,039 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Acadia Realty Trust during the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 97.65% of the company's stock.
Acadia Realty Trust Stock Performance
Shares of AKR stock traded down $0.10 during mid-day trading on Friday, reaching $25.00. 2,716,943 shares of the company's stock traded hands, compared to its average volume of 1,008,368. Acadia Realty Trust has a 12 month low of $14.06 and a 12 month high of $25.58. The firm has a 50 day moving average price of $23.47 and a two-hundred day moving average price of $20.38. 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 market capitalization of $2.99 billion, a PE ratio of 277.56, a price-to-earnings-growth ratio of 6.37 and a beta of 1.46.
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 business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same period in the previous year, the firm earned $0.27 EPS. The company's revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Acadia Realty Trust will post 1.28 EPS 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.04%. Acadia Realty Trust's payout ratio is 844.44%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on AKR. Compass Point upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and increased their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial boosted 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, StockNews.com upgraded shares of Acadia Realty Trust from a "sell" rating to a "hold" rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Acadia Realty Trust has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.
View Our Latest Stock Analysis on AKR
Acadia Realty Trust Company Profile
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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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