Sei Investments Co. Sells 7,214 Shares of Acadia Realty Trust (NYSE:AKR)

Sei Investments Co. reduced its position in shares of Acadia Realty Trust (NYSE:AKR) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,891 shares of the real estate investment trust’s stock after selling 7,214 shares during the period. Sei Investments Co.’s holdings in Acadia Realty Trust were worth $804,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new position in shares of Acadia Realty Trust during the second quarter worth approximately $242,000. MQS Management LLC bought a new position in shares of Acadia Realty Trust during the 2nd quarter valued at $243,000. Hsbc Holdings PLC raised its position in Acadia Realty Trust by 9.1% in the 2nd quarter. Hsbc Holdings PLC now owns 77,634 shares of the real estate investment trust’s stock worth $1,390,000 after purchasing an additional 6,459 shares during the period. Renaissance Technologies LLC lifted its stake in Acadia Realty Trust by 173.8% in the second quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock worth $4,745,000 after purchasing an additional 168,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Acadia Realty Trust by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock valued at $26,337,000 after buying an additional 75,233 shares during the period. Institutional investors own 97.65% of the company’s stock.

Analyst Ratings Changes

AKR has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Compass Point boosted their price target on Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upgraded 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.80.

Acadia Realty Trust Trading Up 1.1 %

Shares of AKR opened at $22.91 on Wednesday. The stock has a market capitalization of $2.36 billion, a PE ratio of 286.38, a P/E/G ratio of 5.98 and a beta of 1.47. The company’s fifty day moving average is $22.30 and its 200 day moving average is $19.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $23.56.

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

Acadia Realty Trust Increases Dividend

The business also recently announced 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 represents a $0.76 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is 950.00%.

Acadia Realty Trust 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.