Daiwa Securities Group Inc. Reduces Position in Acadia Realty Trust (NYSE:AKR)

Daiwa Securities Group Inc. reduced its holdings in Acadia Realty Trust (NYSE:AKR) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,364 shares of the real estate investment trust’s stock after selling 766 shares during the period. Daiwa Securities Group Inc.’s holdings in Acadia Realty Trust were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 572 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Acadia Realty Trust during the first quarter worth approximately $58,000. SG Americas Securities LLC acquired a new position in Acadia Realty Trust during the second quarter worth $103,000. Ameritas Investment Partners Inc. grew its holdings in Acadia Realty Trust by 8.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Acadia Realty Trust in the 4th quarter worth $174,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $23.00 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $2.37 billion, a P/E ratio of 287.50, a P/E/G ratio of 5.85 and a beta of 1.47. The firm’s 50 day moving average price is $21.32 and its 200-day moving average price is $18.54. Acadia Realty Trust has a one year low of $13.24 and a one year high of $23.29.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities research analysts predict that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s payout ratio is currently 950.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AKR shares. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective on the stock in a report on Wednesday, June 26th. Finally, Compass Point increased their price objective on Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.80.

Acadia Realty Trust Company Profile

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.