New York State Common Retirement Fund Increases Stake in Acadia Realty Trust (NYSE:AKR)

New York State Common Retirement Fund boosted its position in Acadia Realty Trust (NYSE:AKR) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 32,647 shares of the real estate investment trust’s stock after acquiring an additional 1,400 shares during the period. New York State Common Retirement Fund’s holdings in Acadia Realty Trust were worth $789,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Acadia Realty Trust by 381.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock valued at $15,422,000 after acquiring an additional 520,319 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Acadia Realty Trust by 89.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 217,401 shares of the real estate investment trust’s stock valued at $5,252,000 after acquiring an additional 102,496 shares during the period. Advisors Preferred LLC lifted its position in shares of Acadia Realty Trust by 58.3% during the fourth quarter. Advisors Preferred LLC now owns 272,590 shares of the real estate investment trust’s stock worth $6,515,000 after acquiring an additional 100,443 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Acadia Realty Trust by 16.9% in the fourth quarter. Principal Financial Group Inc. now owns 654,000 shares of the real estate investment trust’s stock worth $15,801,000 after acquiring an additional 94,565 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Price Performance

NYSE:AKR opened at $22.77 on Tuesday. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The stock has a fifty day moving average of $23.27 and a 200 day moving average of $23.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 126.50, a P/E/G ratio of 6.09 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating 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, research analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s payout ratio is currently 444.44%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AKR. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Truist Financial increased their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.