Daiwa Securities Group Inc. Trims Position in Acadia Realty Trust (NYSE:AKR)

Daiwa Securities Group Inc. trimmed its stake in Acadia Realty Trust (NYSE:AKR) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,949 shares of the real estate investment trust’s stock after selling 1,410 shares during the period. Daiwa Securities Group Inc.’s holdings in Acadia Realty Trust were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Federated Hermes Inc. grew its stake in Acadia Realty Trust by 189.9% in the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 2,152 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Acadia Realty Trust by 128.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,088 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 2,295 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Acadia Realty Trust during the third quarter valued at $185,000. Natixis Advisors L.P. raised its holdings in shares of Acadia Realty Trust by 5.0% in the third quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 997 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Acadia Realty Trust by 21.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,592 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 6,889 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Stock Down 0.5 %

Shares of Acadia Realty Trust stock opened at $17.38 on Friday. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.73. The firm’s 50 day moving average price is $16.71 and its 200-day moving average price is $16.15. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.79 billion, a P/E ratio of 91.48, a PEG ratio of 11.90 and a beta of 1.44.

Acadia Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio is currently 378.97%.

Wall Street Analysts Forecast Growth

AKR has been the subject of several recent research reports. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $20.00 in a report on Friday, April 5th. Jefferies Financial Group raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $20.00 in a research note on Tuesday, January 2nd. Finally, Truist Financial cut Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Tuesday, January 16th. 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.50.

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.