Jennison Associates LLC acquired a new stake in Acadia Realty Trust (NYSE:AKR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,890 shares of the real estate investment trust's stock, valued at approximately $1,171,000.
Several other hedge funds have also recently modified their holdings of AKR. Vanguard Group Inc. boosted its position in Acadia Realty Trust by 7.7% in the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust's stock valued at $283,775,000 after buying an additional 1,192,138 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Acadia Realty Trust by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust's stock valued at $150,511,000 after purchasing an additional 388,067 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Acadia Realty Trust by 5.4% in the second 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. Bank of New York Mellon Corp lifted its stake in Acadia Realty Trust by 0.7% in 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 purchasing an additional 8,739 shares in the last quarter. Finally, APG Asset Management US Inc. acquired a new position in Acadia Realty Trust during the second quarter worth $18,070,000. Hedge funds and other institutional investors own 97.65% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on AKR shares. StockNews.com upgraded Acadia Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial increased their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Acadia Realty Trust presently has a consensus rating of "Moderate Buy" and an average target price of $21.60.
Read Our Latest Report on AKR
Acadia Realty Trust Price Performance
Shares of NYSE:AKR traded up $0.22 on Friday, hitting $25.22. The company had a trading volume of 1,044,592 shares, compared to its average volume of 1,325,705. The company has a market cap of $3.02 billion, a PE ratio of 280.22, a PEG ratio of 6.32 and a beta of 1.46. The business has a 50 day moving average of $23.97 and a 200 day moving average of $21.02. Acadia Realty Trust has a 52-week low of $14.72 and a 52-week high of $25.58. 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 (NYSE:AKR - Get Free Report) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 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 firm had revenue of $87.70 million during the quarter, compared to analysts' expectations of $70.88 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm'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 earnings per share for the current fiscal year.
Acadia Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust's dividend payout ratio (DPR) is 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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