Van ECK Associates Corp Buys 4,467 Shares of Acadia Realty Trust (NYSE:AKR)

Van ECK Associates Corp lifted its position in shares of Acadia Realty Trust (NYSE:AKR) by 25.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,194 shares of the real estate investment trust’s stock after buying an additional 4,467 shares during the quarter. Van ECK Associates Corp’s holdings in Acadia Realty Trust were worth $536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jane Street Group LLC raised its stake in Acadia Realty Trust by 3.6% in the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock valued at $2,358,000 after purchasing an additional 3,453 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Acadia Realty Trust in the third quarter valued at approximately $202,000. Contravisory Investment Management Inc. bought a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $297,000. KBC Group NV boosted its holdings in Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Acadia Realty Trust by 11.8% during the 3rd quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock worth $18,240,000 after buying an additional 81,853 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Price Performance

AKR opened at $22.76 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 0.96. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The stock has a market capitalization of $2.72 billion, a PE ratio of 126.43, a price-to-earnings-growth ratio of 6.14 and a beta of 1.46. The stock’s 50 day moving average price is $23.43 and its 200-day moving average price is $23.57.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, equities research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.20 dividend. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.52%. Acadia Realty Trust’s dividend payout ratio is currently 422.22%.

Wall Street Analysts Forecast Growth

AKR has been the topic of a number of research reports. Truist Financial upped their target price on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.00.

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.