Vanguard Group Inc. Boosts Stock Position in Acadia Realty Trust $AKR

Vanguard Group Inc. increased its holdings in Acadia Realty Trust (NYSE:AKR) by 0.6% during the 3rd quarter, Holdings Channel reports. The firm owned 19,939,618 shares of the real estate investment trust’s stock after buying an additional 114,473 shares during the period. Vanguard Group Inc. owned approximately 0.15% of Acadia Realty Trust worth $401,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Acadia Realty Trust by 83.2% in the 1st quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust’s stock worth $885,000 after buying an additional 19,184 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Acadia Realty Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,734 shares of the real estate investment trust’s stock worth $1,461,000 after acquiring an additional 3,045 shares during the period. Millennium Management LLC lifted its stake in Acadia Realty Trust by 31.1% in the first quarter. Millennium Management LLC now owns 811,139 shares of the real estate investment trust’s stock worth $16,993,000 after acquiring an additional 192,267 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Acadia Realty Trust by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust’s stock valued at $17,145,000 after acquiring an additional 82,974 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Acadia Realty Trust during the 1st quarter valued at $1,284,000. Institutional investors own 97.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AKR. Wall Street Zen lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Citigroup boosted their price target on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Truist Financial lowered their price objective on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.33.

Acadia Realty Trust Trading Up 1.2%

Shares of NYSE AKR opened at $20.77 on Friday. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $23.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $20.58 and a 200 day moving average of $20.08. The stock has a market cap of $2.72 billion, a P/E ratio of 230.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The business had revenue of $104.77 million for the quarter, compared to the consensus estimate of $92.19 million. During the same period in the prior year, the business posted $0.32 EPS. Acadia Realty Trust’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. Acadia Realty Trust’s payout ratio is presently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.