State Street Corp Sells 123,372 Shares of Acadia Realty Trust (NYSE:AKR)

State Street Corp reduced its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,977,513 shares of the real estate investment trust's stock after selling 123,372 shares during the quarter. State Street Corp owned about 5.00% of Acadia Realty Trust worth $141,479,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AKR. SG Americas Securities LLC acquired a new position in Acadia Realty Trust during the 2nd quarter valued at about $103,000. Nisa Investment Advisors LLC lifted its position in Acadia Realty Trust by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 55,378 shares of the real estate investment trust's stock worth $1,002,000 after purchasing an additional 3,192 shares during the period. Louisiana State Employees Retirement System lifted its position in Acadia Realty Trust by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust's stock worth $930,000 after purchasing an additional 1,200 shares during the period. Bank of New York Mellon Corp boosted its stake in Acadia Realty Trust by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust's stock valued at $21,090,000 after purchasing an additional 8,739 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Acadia Realty Trust by 70.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,095 shares of the real estate investment trust's stock valued at $1,256,000 after purchasing an additional 28,908 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Up 0.6 %

NYSE AKR traded up $0.15 during trading on Friday, reaching $25.35. The company's stock had a trading volume of 1,317,978 shares, compared to its average volume of 1,027,089. The stock has a market capitalization of $3.03 billion, a PE ratio of 281.67, a PEG ratio of 6.32 and a beta of 1.46. The business has a 50-day moving average price of $24.73 and a 200-day moving average price of $21.89. 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 has a 1-year low of $16.09 and a 1-year high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released 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). The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. On average, research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust's dividend payout ratio is currently 844.44%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and upped their target price for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Finally, StockNews.com cut Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Acadia Realty Trust presently has a consensus rating of "Hold" and an average price target of $22.40.

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.