Louisiana State Employees Retirement System Acquires 6,900 Shares of Acadia Realty Trust (NYSE:AKR)

Louisiana State Employees Retirement System grew its position in Acadia Realty Trust (NYSE:AKR) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,800 shares of the real estate investment trust’s stock after purchasing an additional 6,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Acadia Realty Trust were worth $1,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Entropy Technologies LP purchased a new stake in shares of Acadia Realty Trust during the fourth quarter valued at $1,266,000. Advisors Preferred LLC raised its position in shares of Acadia Realty Trust by 58.3% in the fourth quarter. Advisors Preferred LLC now owns 272,590 shares of the real estate investment trust’s stock worth $6,515,000 after acquiring an additional 100,443 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Acadia Realty Trust by 28.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,237 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 5,862 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Acadia Realty Trust by 89.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 217,401 shares of the real estate investment trust’s stock worth $5,252,000 after acquiring an additional 102,496 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Acadia Realty Trust by 13.8% in the fourth quarter. State of Alaska Department of Revenue now owns 124,103 shares of the real estate investment trust’s stock worth $2,996,000 after acquiring an additional 15,092 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Price Performance

Shares of AKR opened at $23.90 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $2.86 billion, a PE ratio of 265.51, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. The firm has a fifty day moving average price of $23.61 and a 200 day moving average price of $23.52.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (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%. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.35%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio is presently 444.44%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AKR shares. Truist Financial upped their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Acadia Realty Trust has an average rating of “Hold” and a consensus price target of $23.00.

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.