JPMorgan Chase & Co. Has $19.35 Million Stock Holdings in Acadia Realty Trust (NYSE:AKR)

JPMorgan Chase & Co. lowered its stake in Acadia Realty Trust (NYSE:AKR) by 19.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,008 shares of the real estate investment trust’s stock after selling 203,763 shares during the period. JPMorgan Chase & Co. owned 0.69% of Acadia Realty Trust worth $19,348,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC increased its holdings in Acadia Realty Trust by 22.7% in the second quarter. Natixis Advisors LLC now owns 27,321 shares of the real estate investment trust’s stock valued at $490,000 after purchasing an additional 5,048 shares during the period. Rhumbline Advisers grew its position in shares of Acadia Realty Trust by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 345,377 shares of the real estate investment trust’s stock valued at $6,189,000 after buying an additional 8,596 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Acadia Realty Trust by 14.4% in the second quarter. Victory Capital Management Inc. now owns 151,036 shares of the real estate investment trust’s stock valued at $2,707,000 after buying an additional 19,023 shares during the period. Arizona State Retirement System raised its position in shares of Acadia Realty Trust by 2.6% during the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 724 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in shares of Acadia Realty Trust by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock worth $1,614,000 after acquiring an additional 531 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $22.88 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a twelve month low of $16.09 and a twelve month high of $26.29. The company has a fifty day moving average of $24.70 and a 200-day moving average of $22.76. The firm has a market capitalization of $2.74 billion, a P/E ratio of 254.22, a P/E/G ratio of 6.41 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share 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 company had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the prior year, the company posted $0.27 EPS. Acadia Realty Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Analyst Ratings Changes

Several research firms have issued reports on AKR. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Finally, Truist Financial upped their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.00.

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.