Federated Hermes Inc. Boosts Stock Position in Acadia Realty Trust (NYSE:AKR)

Federated Hermes Inc. raised its stake in shares of Acadia Realty Trust (NYSE:AKR) by 113.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,000 shares of the real estate investment trust’s stock after buying an additional 3,715 shares during the quarter. Federated Hermes Inc.’s holdings in Acadia Realty Trust were worth $119,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AKR. Allspring Global Investments Holdings LLC increased its holdings in shares of Acadia Realty Trust by 128.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,088 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 2,295 shares in the last quarter. Jump Financial LLC purchased a new stake in Acadia Realty Trust during the 3rd quarter valued at about $185,000. Natixis Advisors L.P. increased its stake in Acadia Realty Trust by 5.0% during the 3rd 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 in the last quarter. Daiwa Securities Group Inc. raised its holdings 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 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 buying an additional 6,889 shares in the last quarter. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Performance

AKR stock opened at $16.88 on Tuesday. The company has a market cap of $1.74 billion, a P/E ratio of 211.00, a price-to-earnings-growth ratio of 11.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. Acadia Realty Trust has a 1 year low of $12.37 and a 1 year high of $17.90. The stock’s fifty day moving average price is $16.78 and its 200-day moving average price is $16.31.

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

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders 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 dividend yield of 4.27%. The ex-dividend date is Friday, June 28th. Acadia Realty Trust’s dividend payout ratio is presently 900.00%.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $20.00 in a research note on Friday, April 5th. 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 report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.