Mutual of America Capital Management LLC Sells 1,117 Shares of Acadia Realty Trust (NYSE:AKR)

Mutual of America Capital Management LLC lowered its stake in Acadia Realty Trust (NYSE:AKR) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,843 shares of the real estate investment trust’s stock after selling 1,117 shares during the period. Mutual of America Capital Management LLC’s holdings in Acadia Realty Trust were worth $372,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Acadia Realty Trust by 5.4% during the 2nd 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 purchasing an additional 75,233 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 period. APG Asset Management US Inc. bought a new stake in shares of Acadia Realty Trust in the 2nd quarter worth about $18,070,000. Rhumbline Advisers boosted its stake in shares of Acadia Realty Trust by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 345,377 shares of the real estate investment trust’s stock worth $6,189,000 after purchasing an additional 8,596 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Acadia Realty Trust during the 2nd quarter valued at about $5,090,000. 97.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Acadia Realty Trust Stock Up 1.8 %

Shares of NYSE AKR opened at $26.08 on Thursday. Acadia Realty Trust has a 52-week low of $14.74 and a 52-week high of $26.16. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 289.44, a PEG ratio of 6.47 and a beta of 1.46. The stock has a 50 day moving average price of $24.08 and a 200 day moving average price of $21.14. 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 quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share 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 firm had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.91%. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

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.