Mirae Asset Global Investments Co. Ltd. Has $93,000 Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 35.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,005 shares of the real estate investment trust’s stock after purchasing an additional 1,039 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Acadia Realty Trust were worth $93,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AKR. Vanguard Group Inc. grew its position in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after buying an additional 1,192,138 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after purchasing an additional 388,067 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Acadia Realty Trust by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock valued at $930,000 after purchasing an additional 1,200 shares during the period. Capstone Investment Advisors LLC bought a new position in shares of Acadia Realty Trust during the 1st quarter worth about $260,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Acadia Realty Trust by 1.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock valued at $2,234,000 after buying an additional 2,290 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AKR has been the subject of a number of research reports. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Acadia Realty Trust has an average rating of “Moderate Buy” and an average price target of $21.60.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $24.39 on Tuesday. Acadia Realty Trust has a 1-year low of $14.06 and a 1-year high of $24.92. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.92 billion, a PE ratio of 271.00, a price-to-earnings-growth ratio of 6.37 and a beta of 1.46. The stock’s fifty day simple moving average is $23.27 and its two-hundred day simple moving average is $20.21.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter last year, the business posted $0.27 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts forecast that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

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.