Mirae Asset Global Investments Co. Ltd. Sells 1,066 Shares of Acadia Realty Trust (NYSE:AKR)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 26.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,939 shares of the real estate investment trust’s stock after selling 1,066 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Acadia Realty Trust were worth $71,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas lifted its stake in shares of Acadia Realty Trust by 14.4% during the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 489 shares during the last quarter. KBC Group NV lifted its holdings in Acadia Realty Trust by 44.1% during the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,448 shares during the last quarter. Custom Index Systems LLC acquired a new position in Acadia Realty Trust in the 3rd quarter valued at $202,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Acadia Realty Trust during the third quarter worth $202,000. Finally, Longboard Asset Management LP bought a new stake in shares of Acadia Realty Trust in the fourth quarter valued at about $213,000. 97.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial boosted 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, December 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.00.

Acadia Realty Trust Stock Down 3.5 %

Shares of AKR opened at $23.90 on Friday. The firm has a 50 day simple moving average of $23.61 and a two-hundred day simple moving average of $23.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. Acadia Realty Trust has a one year low of $16.09 and a one year high of $26.29. The company has a market cap of $2.86 billion, a P/E ratio of 265.51, a P/E/G ratio of 6.24 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. Research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s payout ratio is presently 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.