Amalgamated Bank Sells 559 Shares of Acadia Realty Trust (NYSE:AKR)

Amalgamated Bank lowered its holdings in Acadia Realty Trust (NYSE:AKR) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,903 shares of the real estate investment trust’s stock after selling 559 shares during the quarter. Amalgamated Bank’s holdings in Acadia Realty Trust were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. increased its stake in Acadia Realty Trust by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock valued at $3,725,000 after acquiring an additional 476 shares during the period. Van ECK Associates Corp grew its stake in Acadia Realty Trust by 14.7% during the third quarter. Van ECK Associates Corp now owns 17,727 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 2,268 shares during the last quarter. abrdn plc grew its stake in Acadia Realty Trust by 10.0% during the third quarter. abrdn plc now owns 21,535 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 1,954 shares during the last quarter. Custom Index Systems LLC bought a new stake in Acadia Realty Trust during the third quarter worth about $202,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Up 0.5 %

Shares of NYSE:AKR opened at $24.60 on Friday. Acadia Realty Trust has a 12 month low of $14.62 and a 12 month high of $25.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $23.74 and its 200 day simple moving average is $20.69. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 273.33, a PEG ratio of 6.25 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. During the same period last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial increased their price objective 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. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.60.

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.