Mirae Asset Global Investments Co. Ltd. Sells 751 Shares of Acadia Realty Trust $AKR

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Acadia Realty Trust (NYSE:AKR) by 23.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,481 shares of the real estate investment trust’s stock after selling 751 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Acadia Realty Trust were worth $46,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AKR. GAMMA Investing LLC grew its holdings in Acadia Realty Trust by 2,163.7% during the first quarter. GAMMA Investing LLC now owns 68,025 shares of the real estate investment trust’s stock worth $1,425,000 after buying an additional 65,020 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Acadia Realty Trust by 11.2% in the first quarter. Illinois Municipal Retirement Fund now owns 64,107 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 6,440 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Acadia Realty Trust by 11.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 241,693 shares of the real estate investment trust’s stock worth $5,063,000 after purchasing an additional 24,292 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Acadia Realty Trust in the first quarter worth $364,000. Finally, Principal Financial Group Inc. boosted its position in Acadia Realty Trust by 2.6% in the first quarter. Principal Financial Group Inc. now owns 670,957 shares of the real estate investment trust’s stock worth $14,057,000 after purchasing an additional 16,957 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, October 8th. Citigroup raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $23.00 in a research report on Friday, September 12th. Zacks Research cut Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. Wall Street Zen cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, LADENBURG THALM/SH SH began coverage on Acadia Realty Trust in a research report on Tuesday, September 9th. They issued a “neutral” rating and a $21.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.33.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $18.98 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.05. Acadia Realty Trust has a 52-week low of $16.98 and a 52-week high of $26.29. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 118.63, a PEG ratio of 3.85 and a beta of 1.47. The business’s fifty day moving average is $19.69 and its 200 day moving average is $19.36.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The company had revenue of $98.30 million for the quarter, compared to the consensus estimate of $81.89 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 30th. Acadia Realty Trust’s payout ratio is presently 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.