Maryland State Retirement & Pension System Reduces Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Maryland State Retirement & Pension System lessened its stake in Acadia Realty Trust (NYSE:AKR) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,975 shares of the real estate investment trust’s stock after selling 879 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Acadia Realty Trust were worth $645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. boosted its position in Acadia Realty Trust by 113.1% during the fourth quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 3,715 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Acadia Realty Trust by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 13,098 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 2,154 shares in the last quarter. Victory Capital Management Inc. grew its stake in Acadia Realty Trust by 12.9% in the 4th quarter. Victory Capital Management Inc. now owns 78,797 shares of the real estate investment trust’s stock valued at $1,339,000 after acquiring an additional 9,028 shares during the period. Natixis Advisors L.P. increased its holdings in Acadia Realty Trust by 5.2% in the 4th quarter. Natixis Advisors L.P. now owns 21,943 shares of the real estate investment trust’s stock worth $372,000 after acquiring an additional 1,087 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Acadia Realty Trust by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,682,989 shares of the real estate investment trust’s stock worth $28,594,000 after acquiring an additional 54,996 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Trading Up 0.3 %

AKR opened at $22.51 on Tuesday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 281.38, a price-to-earnings-growth ratio of 5.86 and a beta of 1.46. The company’s 50 day simple moving average is $20.39 and its two-hundred day simple moving average is $18.11. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $22.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The company had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Analysts expect that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.38%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio is currently 950.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Truist Financial increased their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Acadia Realty Trust has an average rating of “Hold” and an average target price of $19.40.

Acadia Realty Trust 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.