UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 520,319 Shares of Acadia Realty Trust (NYSE:AKR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 381.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 656,795 shares of the real estate investment trust's stock after buying an additional 520,319 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.55% of Acadia Realty Trust worth $15,422,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Acadia Realty Trust by 3.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,387 shares of the real estate investment trust's stock worth $1,700,000 after buying an additional 2,292 shares in the last quarter. FMR LLC grew its holdings in shares of Acadia Realty Trust by 290.3% during the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust's stock worth $224,910,000 after buying an additional 7,124,403 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Acadia Realty Trust by 7.7% during the third quarter. The Manufacturers Life Insurance Company now owns 56,746 shares of the real estate investment trust's stock worth $1,332,000 after buying an additional 4,049 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Acadia Realty Trust by 8.7% during the third quarter. Daiwa Securities Group Inc. now owns 35,174 shares of the real estate investment trust's stock worth $826,000 after buying an additional 2,810 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Acadia Realty Trust by 16.3% in the third quarter. Citigroup Inc. now owns 153,764 shares of the real estate investment trust's stock valued at $3,610,000 after purchasing an additional 21,532 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AKR has been the subject of a number of analyst reports. Truist Financial raised their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday. StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Finally, Compass Point upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. One equities 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's stock. According to MarketBeat.com, Acadia Realty Trust presently has an average rating of "Hold" and a consensus target price of $22.40.

Acadia Realty Trust Stock Performance

Shares of AKR remained flat at $25.51 during mid-day trading on Friday. The stock had a trading volume of 886,240 shares, compared to its average volume of 1,184,157. Acadia Realty Trust has a 52 week low of $15.48 and a 52 week high of $26.29. The stock has a market cap of $3.05 billion, a PE ratio of 283.44, a P/E/G ratio of 6.44 and a beta of 1.46. The business's fifty day moving average price is $24.52 and its 200-day moving average price is $21.55. 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 (NYSE:AKR - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $70.88 million. During the same period in the previous year, the business earned $0.27 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current 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 issued 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 2.98%. Acadia Realty Trust's payout ratio is currently 844.44%.

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.