Texas Permanent School Fund Corp Reduces Position in Acadia Realty Trust (NYSE:AKR)

Texas Permanent School Fund Corp cut its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 83,797 shares of the real estate investment trust’s stock after selling 1,361 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Acadia Realty Trust were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AKR. Bank of New York Mellon Corp boosted its holdings in Acadia Realty Trust by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 1,119,731 shares of the real estate investment trust’s stock valued at $16,113,000 after purchasing an additional 13,886 shares during the last quarter. Heitman Real Estate Securities LLC boosted its holdings in Acadia Realty Trust by 7.6% in the first quarter. Heitman Real Estate Securities LLC now owns 77,655 shares of the real estate investment trust’s stock valued at $1,083,000 after purchasing an additional 5,455 shares during the last quarter. Barclays PLC boosted its holdings in Acadia Realty Trust by 1.4% in the second quarter. Barclays PLC now owns 219,107 shares of the real estate investment trust’s stock valued at $3,155,000 after purchasing an additional 3,025 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Acadia Realty Trust by 9.9% in 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 purchasing an additional 2,861 shares during the last quarter. Finally, abrdn plc boosted its holdings in Acadia Realty Trust by 9.1% in the second quarter. abrdn plc now owns 18,465 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 1,534 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have commented on AKR. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Truist Financial reiterated a “buy” rating and issued a $17.00 price objective on shares of Acadia Realty Trust in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.33.

Acadia Realty Trust Trading Up 0.9 %

Shares of Acadia Realty Trust stock opened at $15.00 on Friday. The firm has a 50-day simple moving average of $14.48 and a two-hundred day simple moving average of $14.43. The company has a market cap of $1.43 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.52. Acadia Realty Trust has a fifty-two week low of $12.37 and a fifty-two week high of $16.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.91 and a current ratio of 0.91.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.80%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 288.00%.

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.