Bank of New York Mellon Corp Raises Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Bank of New York Mellon Corp lifted its holdings in Acadia Realty Trust (NYSE:AKR) by 10.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,227,613 shares of the real estate investment trust’s stock after buying an additional 116,855 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of Acadia Realty Trust worth $25,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in Acadia Realty Trust by 2.1% in the fourth quarter. Captrust Financial Advisors now owns 34,877 shares of the real estate investment trust’s stock worth $843,000 after purchasing an additional 731 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Acadia Realty Trust by 1.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 57,510 shares of the real estate investment trust’s stock worth $1,389,000 after purchasing an additional 764 shares in the last quarter. Mariner LLC grew its stake in Acadia Realty Trust by 2.5% in the fourth quarter. Mariner LLC now owns 44,221 shares of the real estate investment trust’s stock worth $1,068,000 after purchasing an additional 1,080 shares in the last quarter. California State Teachers Retirement System grew its stake in Acadia Realty Trust by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 99,366 shares of the real estate investment trust’s stock worth $2,401,000 after purchasing an additional 1,749 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in Acadia Realty Trust in the fourth quarter worth approximately $46,000. Institutional investors own 97.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial raised Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, April 10th.

Acadia Realty Trust Stock Up 2.4%

Shares of NYSE AKR opened at $18.73 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.45 billion, a PE ratio of 117.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.36. The stock’s fifty day simple moving average is $19.16 and its two-hundred day simple moving average is $20.81. Acadia Realty Trust has a 12-month low of $16.98 and a 12-month high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $104.39 million during the quarter, compared to analysts’ expectations of $86.99 million. Acadia Realty Trust had a return on equity of 0.81% and a net margin of 5.36%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.27%. Acadia Realty Trust’s dividend payout ratio (DPR) is 500.00%.

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.