State of Alaska Department of Revenue Boosts Holdings in Acadia Realty Trust (NYSE:AKR)

State of Alaska Department of Revenue increased its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,103 shares of the real estate investment trust's stock after acquiring an additional 15,092 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.10% of Acadia Realty Trust worth $2,996,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AKR. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Acadia Realty Trust by 35.0% during the 3rd 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 purchasing an additional 1,039 shares during the period. USA Financial Formulas lifted its stake in shares of Acadia Realty Trust by 14.4% in the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 489 shares during the last quarter. KBC Group NV raised its position in Acadia Realty Trust by 44.1% during the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 1,448 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Acadia Realty Trust during the 3rd quarter valued at approximately $202,000. Finally, Custom Index Systems LLC bought a new position in Acadia Realty Trust during the 3rd quarter valued at approximately $202,000. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded up $0.67 during mid-day trading on Thursday, hitting $24.75. The stock had a trading volume of 1,463,162 shares, compared to its average volume of 920,940. 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 company has a 50 day moving average of $23.65 and a two-hundred day moving average of $23.46. Acadia Realty Trust has a twelve month low of $16.09 and a twelve month high of $26.29. The firm has a market cap of $2.96 billion, a PE ratio of 274.98, a PEG ratio of 6.24 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. Research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. Acadia Realty Trust's dividend payout ratio is presently 844.44%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Truist Financial boosted their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $23.00.

About Acadia Realty Trust

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.