Thrivent Financial for Lutherans lowered its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 62.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,715 shares of the real estate investment trust's stock after selling 138,145 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Acadia Realty Trust worth $1,942,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased 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 valued at $42,000 after acquiring an additional 572 shares in the last quarter. USA Financial Formulas purchased a new stake in Acadia Realty Trust during the 3rd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 in the last quarter. SG Americas Securities LLC purchased a new position in Acadia Realty Trust in the second quarter worth about $103,000. Finally, Algert Global LLC bought a new position in shares of Acadia Realty Trust in the second quarter worth approximately $186,000. Hedge funds and other institutional investors own 97.65% of the company's stock.
Acadia Realty Trust Stock Performance
Shares of Acadia Realty Trust stock traded down $0.23 during trading hours on Friday, reaching $25.85. 734,203 shares of the stock traded hands, compared to its average volume of 1,017,164. Acadia Realty Trust has a one year low of $14.74 and a one year high of $26.29. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 288.67, a P/E/G ratio of 6.59 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $24.22 and a 200 day moving average price of $21.21.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its 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 business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.
Acadia Realty Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 2.94%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 844.44%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on AKR shares. StockNews.com upgraded shares of Acadia Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and upped their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.60.
View Our Latest Analysis on AKR
Acadia Realty Trust Company Profile
(
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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