Pictet Asset Management SA reduced its position in Acadia Realty Trust (NYSE:AKR – Free Report) by 33.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,303 shares of the real estate investment trust’s stock after selling 13,979 shares during the quarter. Pictet Asset Management SA’s holdings in Acadia Realty Trust were worth $381,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its holdings in shares of Acadia Realty Trust by 2.5% during the first quarter. Asset Management One Co. Ltd. now owns 152,463 shares of the real estate investment trust’s stock valued at $2,127,000 after acquiring an additional 3,678 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Acadia Realty Trust by 37.5% during the first quarter. Inspire Investing LLC now owns 22,669 shares of the real estate investment trust’s stock valued at $316,000 after acquiring an additional 6,186 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Acadia Realty Trust by 14.8% during the fourth quarter. ProShare Advisors LLC now owns 14,757 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 1,901 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Acadia Realty Trust during the fourth quarter valued at about $1,122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Acadia Realty Trust by 9.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,703 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 2,861 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AKR. StockNews.com initiated coverage on Acadia Realty Trust in a research report on Thursday, August 17th. They set a “hold” rating for the company. Truist Financial reiterated a “buy” rating and set a $17.00 price target on shares of Acadia Realty Trust in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $16.33.
Acadia Realty Trust Stock Up 1.8 %
Acadia Realty Trust stock opened at $14.87 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50-day simple moving average is $14.99 and its two-hundred day simple moving average is $14.13. The company has a market cap of $1.42 billion, a PE ratio of -43.73, a PEG ratio of 1.45 and a beta of 1.50. Acadia Realty Trust has a fifty-two week low of $12.28 and a fifty-two week high of $16.76.
Acadia Realty Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.18 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.84%. Acadia Realty Trust’s payout ratio is -211.76%.
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.
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