APG Asset Management US Inc. Reduces Stake in Acadia Realty Trust $AKR

APG Asset Management US Inc. lowered its position in Acadia Realty Trust (NYSE:AKR) by 20.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 838,642 shares of the real estate investment trust’s stock after selling 214,510 shares during the period. APG Asset Management US Inc. owned about 0.64% of Acadia Realty Trust worth $17,083,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AKR. Massachusetts Financial Services Co. MA bought a new stake in shares of Acadia Realty Trust during the 3rd quarter valued at about $64,526,000. Engineers Gate Manager LP purchased a new position in shares of Acadia Realty Trust in the second quarter worth approximately $29,771,000. State Street Corp grew its position in Acadia Realty Trust by 9.3% during the second quarter. State Street Corp now owns 7,450,026 shares of the real estate investment trust’s stock valued at $139,802,000 after buying an additional 632,722 shares during the period. Hudson Bay Capital Management LP increased its holdings in Acadia Realty Trust by 25.4% during the second quarter. Hudson Bay Capital Management LP now owns 2,325,956 shares of the real estate investment trust’s stock valued at $43,193,000 after buying an additional 471,103 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Acadia Realty Trust by 34.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,424,302 shares of the real estate investment trust’s stock worth $26,449,000 after acquiring an additional 366,113 shares during the period. Institutional investors own 97.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AKR shares. Citigroup upped their price objective on Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Truist Financial cut their price target on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Acadia Realty Trust presently has a consensus rating of “Hold” and an average price target of $22.33.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock opened at $20.95 on Friday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 232.81, a PEG ratio of 2.09 and a beta of 1.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $20.59 and its 200-day simple moving average is $20.10. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $23.45.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.28). Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The business had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $92.19 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. Acadia Realty Trust’s dividend payout ratio is currently 888.89%.

Acadia Realty Trust Profile

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.