State of New Jersey Common Pension Fund D reduced its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,518 shares of the real estate investment trust's stock after selling 25,085 shares during the period. State of New Jersey Common Pension Fund D owned about 0.23% of Acadia Realty Trust worth $6,516,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 572 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Acadia Realty Trust during the first quarter valued at approximately $58,000. USA Financial Formulas purchased a new stake in shares of Acadia Realty Trust during the third quarter valued at approximately $80,000. Mirae Asset Global Investments Co. Ltd. raised its stake 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 purchasing an additional 1,039 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust in the second quarter worth $103,000. 97.65% of the stock is owned by hedge funds and other institutional investors.
Acadia Realty Trust Stock Performance
Shares of AKR traded down $0.30 during midday trading on Tuesday, hitting $24.88. 238,202 shares of the stock traded hands, compared to its average volume of 1,005,157. Acadia Realty Trust has a 1-year low of $14.06 and a 1-year high of $25.58. The firm has a market capitalization of $2.98 billion, a PE ratio of 279.78, a price-to-earnings-growth ratio of 6.32 and a beta of 1.46. 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 business's 50 day moving average price is $23.57 and its two-hundred day moving average price is $20.53.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period last year, the firm posted $0.27 EPS. The business's revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.
Acadia Realty Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 3.05%. Acadia Realty Trust's payout ratio is 844.44%.
Analysts Set New Price Targets
Several research firms have weighed in on AKR. StockNews.com lowered shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Friday. 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, Compass Point upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.60.
Check Out Our Latest Research Report on AKR
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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