JPMorgan Chase & Co. Sells 203,763 Shares of Acadia Realty Trust (NYSE:AKR)

JPMorgan Chase & Co. lowered its position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 19.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 824,008 shares of the real estate investment trust's stock after selling 203,763 shares during the period. JPMorgan Chase & Co. owned 0.69% of Acadia Realty Trust worth $19,348,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Natixis Advisors LLC lifted its stake in shares of Acadia Realty Trust by 22.7% in the 2nd quarter. Natixis Advisors LLC now owns 27,321 shares of the real estate investment trust's stock worth $490,000 after acquiring an additional 5,048 shares during the period. Rhumbline Advisers lifted its position in Acadia Realty Trust by 2.6% in the second quarter. Rhumbline Advisers now owns 345,377 shares of the real estate investment trust's stock worth $6,189,000 after purchasing an additional 8,596 shares during the period. Victory Capital Management Inc. boosted its stake in Acadia Realty Trust by 14.4% during the 2nd quarter. Victory Capital Management Inc. now owns 151,036 shares of the real estate investment trust's stock valued at $2,707,000 after purchasing an additional 19,023 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Acadia Realty Trust by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust's stock worth $517,000 after buying an additional 724 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Acadia Realty Trust by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust's stock worth $1,614,000 after buying an additional 531 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AKR. Truist Financial lifted their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Compass Point upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Finally, StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $23.00.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded down $0.73 during mid-day trading on Friday, hitting $22.08. The company had a trading volume of 1,596,074 shares, compared to its average volume of 1,102,446. Acadia Realty Trust has a 12 month low of $16.09 and a 12 month high of $26.29. The firm has a market cap of $2.64 billion, a P/E ratio of 245.33, a PEG ratio of 6.41 and a beta of 1.47. The business's 50-day simple moving average is $24.70 and its 200-day simple moving average is $22.76. 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 released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.25). The company had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 3.44%. Acadia Realty Trust's payout ratio is 844.44%.

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.