Arizona State Retirement System Raises Position in Acadia Realty Trust (NYSE:AKR)

Arizona State Retirement System boosted its stake in Acadia Realty Trust (NYSE:AKR) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,831 shares of the real estate investment trust’s stock after buying an additional 724 shares during the quarter. Arizona State Retirement System’s holdings in Acadia Realty Trust were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AKR. 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 valued at $42,000 after buying an additional 572 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Acadia Realty Trust in the 1st quarter worth approximately $58,000. SG Americas Securities LLC purchased a new position in Acadia Realty Trust in the 2nd quarter worth approximately $103,000. Ameritas Investment Partners Inc. lifted its stake 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 worth $171,000 after purchasing an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Acadia Realty Trust in the 4th quarter worth approximately $174,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AKR. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a research note on Wednesday, June 26th. StockNews.com upgraded 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. Finally, Compass Point raised their price target on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.80.

Acadia Realty Trust Stock Up 0.1 %

Acadia Realty Trust stock opened at $23.00 on Tuesday. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $23.29. 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 50 day moving average price of $21.32 and a 200 day moving average price of $18.54. The company has a market capitalization of $2.37 billion, a PE ratio of 287.50, a price-to-earnings-growth ratio of 5.85 and a beta of 1.47.

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

Acadia Realty Trust Increases Dividend

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

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.