Illinois Municipal Retirement Fund Sells 772 Shares of Acadia Realty Trust (NYSE:AKR)

Illinois Municipal Retirement Fund reduced its stake in Acadia Realty Trust (NYSE:AKR) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 53,677 shares of the real estate investment trust’s stock after selling 772 shares during the period. Illinois Municipal Retirement Fund’s holdings in Acadia Realty Trust were worth $912,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. raised 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 buying an additional 2,152 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Acadia Realty Trust by 128.0% in the third 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 bought a new position in Acadia Realty Trust in the third quarter worth about $185,000. Natixis Advisors L.P. raised its stake in 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 worth $299,000 after buying an additional 997 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Acadia Realty Trust by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 30,359 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 1,123 shares in the last quarter. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Trading Down 0.3 %

NYSE:AKR opened at $17.32 on Monday. The company’s 50 day moving average price is $16.72 and its 200-day moving average price is $16.20. Acadia Realty Trust has a 52 week low of $12.37 and a 52 week high of $17.73. 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 stock has a market cap of $1.78 billion, a price-to-earnings ratio of 91.16, a PEG ratio of 11.56 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. Stockholders of record on Thursday, March 28th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Wednesday, March 27th. Acadia Realty Trust’s payout ratio is 378.97%.

Wall Street Analysts Forecast Growth

AKR has been the topic of a number of recent research reports. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $20.00 in a report on Friday, April 5th. Truist Financial cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Tuesday, January 16th. Finally, Jefferies Financial Group upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $20.00 in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

About Acadia Realty Trust

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.