Victory Capital Management Inc. Lowers Position in Acadia Realty Trust (NYSE:AKR)

Victory Capital Management Inc. lessened its holdings in Acadia Realty Trust (NYSE:AKR) by 5.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,069 shares of the real estate investment trust’s stock after selling 8,967 shares during the period. Victory Capital Management Inc. owned 0.12% of Acadia Realty Trust worth $3,336,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Acadia Realty Trust by 7.7% in the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after acquiring an additional 1,192,138 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Acadia Realty Trust by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after acquiring an additional 388,067 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Acadia Realty Trust by 5.4% in 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 acquiring an additional 75,233 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Acadia Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock valued at $21,090,000 after acquiring an additional 8,739 shares during the last quarter. Finally, APG Asset Management US Inc. bought a new position in Acadia Realty Trust in the second quarter valued at $18,070,000. Institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Truist Financial raised their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust Price Performance

AKR stock opened at $25.22 on Friday. The firm has a 50 day moving average price of $23.97 and a 200-day moving average price of $20.99. Acadia Realty Trust has a 52-week low of $14.72 and a 52-week high of $25.58. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 280.22, a PEG ratio of 6.32 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14.

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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. Acadia Realty Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.