Millennium Management LLC Sells 548,268 Shares of Acadia Realty Trust (NYSE:AKR)

Millennium Management LLC trimmed its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 78.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,020 shares of the real estate investment trust's stock after selling 548,268 shares during the period. Millennium Management LLC owned about 0.14% of Acadia Realty Trust worth $2,670,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted 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 worth $42,000 after purchasing an additional 572 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Acadia Realty Trust during the 1st quarter valued at $58,000. SG Americas Securities LLC acquired a new position in shares of Acadia Realty Trust in the second quarter worth $103,000. Ameritas Investment Partners Inc. raised its holdings in shares of Acadia Realty Trust by 8.0% during the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust's stock worth $171,000 after acquiring an additional 740 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Acadia Realty Trust during the second quarter valued at $242,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Analyst Upgrades and Downgrades

AKR has been the topic of several recent research reports. Compass Point raised shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price objective for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an "underweight" rating to a "neutral" rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. Finally, StockNews.com lowered Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Acadia Realty Trust has a consensus rating of "Hold" and a consensus price target of $21.60.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded up $0.31 during trading hours on Wednesday, hitting $24.65. 764,513 shares of the stock were exchanged, compared to its average volume of 990,061. Acadia Realty Trust has a one year low of $13.24 and a one year high of $24.73. The company's 50 day moving average is $22.60 and its 200 day moving average is $19.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $2.54 billion, a P/E ratio of 308.13, a P/E/G ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.30). The firm had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm's revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, research analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.08%. Acadia Realty Trust's payout ratio is 950.00%.

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.