APG Asset Management US Inc. Takes $18.07 Million Position in Acadia Realty Trust (NYSE:AKR)

APG Asset Management US Inc. bought a new position in Acadia Realty Trust (NYSE:AKR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,000,000 shares of the real estate investment trust’s stock, valued at approximately $18,070,000. APG Asset Management US Inc. owned 0.97% of Acadia Realty Trust at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AKR. GAMMA Investing LLC lifted its position in Acadia Realty Trust by 32.7% in the second 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 during the period. Allspring Global Investments Holdings LLC bought a new position in Acadia Realty Trust in the first quarter worth $58,000. SG Americas Securities LLC bought a new position in Acadia Realty Trust in the second quarter worth $103,000. Ameritas Investment Partners Inc. lifted its position in Acadia Realty Trust by 8.0% in the first 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 during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Acadia Realty Trust in the fourth quarter worth $174,000. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $23.16 on Thursday. Acadia Realty Trust has a twelve month low of $13.24 and a twelve month high of $23.35. The firm has a market cap of $2.44 billion, a PE ratio of 289.50, a price-to-earnings-growth ratio of 5.98 and a beta of 1.47. 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 business has a fifty day moving average of $21.82 and a 200-day moving average of $18.83.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 business 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 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts predict that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.19 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.28%. Acadia Realty Trust’s dividend payout ratio (DPR) is 900.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AKR. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Compass Point lifted their price objective on Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Truist Financial lifted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.80.

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.