Acadia Realty Trust (NYSE:AKR) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of Acadia Realty Trust (NYSE:AKR) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 761,817 shares of the real estate investment trust’s stock after selling 13,399 shares during the period. Fisher Asset Management LLC’s holdings in Acadia Realty Trust were worth $12,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Acadia Realty Trust by 1.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,003 shares of the real estate investment trust’s stock worth $631,000 after acquiring an additional 781 shares in the last quarter. Natixis Advisors L.P. boosted its stake 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 purchasing an additional 997 shares during the period. Daiwa Securities Group Inc. increased its stake in Acadia Realty Trust by 3.8% during the 3rd 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 during the period. Nisa Investment Advisors LLC lifted its holdings in Acadia Realty Trust by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 55,229 shares of the real estate investment trust’s stock worth $793,000 after buying an additional 1,241 shares in the last quarter. Finally, Swiss National Bank boosted its position in Acadia Realty Trust by 1.0% in the 3rd quarter. Swiss National Bank now owns 209,300 shares of the real estate investment trust’s stock valued at $3,003,000 after buying an additional 2,100 shares during the period. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Price Performance

Shares of AKR opened at $16.92 on Monday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 211.50, a PEG ratio of 11.30 and a beta of 1.41. The firm’s fifty day simple moving average is $16.78 and its 200-day simple moving average is $16.29. Acadia Realty Trust has a twelve month low of $12.37 and a twelve month high of $17.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The business had revenue of $91.36 million during the quarter, compared to analyst estimates of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, June 28th. Acadia Realty Trust’s payout ratio is 900.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Truist Financial cut Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, January 16th. Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $20.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.