Envestnet Asset Management Inc. Raises Stock Position in Acadia Realty Trust $AKR

Envestnet Asset Management Inc. increased its position in Acadia Realty Trust (NYSE:AKR) by 80.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,453 shares of the real estate investment trust’s stock after acquiring an additional 32,827 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Acadia Realty Trust worth $1,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AKR. Hantz Financial Services Inc. increased its stake in shares of Acadia Realty Trust by 189.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 902 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Acadia Realty Trust by 32.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 547 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Acadia Realty Trust during the second quarter worth $47,000. EverSource Wealth Advisors LLC lifted its position in shares of Acadia Realty Trust by 342.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 2,309 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Acadia Realty Trust by 10.8% during the second quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 543 shares during the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Up 0.9%

AKR stock opened at $20.95 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $20.59 and a 200-day simple moving average of $20.11. The company has a market capitalization of $2.75 billion, a P/E ratio of 232.81, a PEG ratio of 2.09 and a beta of 1.09. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $23.45.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). The company had revenue of $104.77 million for the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

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

Analysts Set New Price Targets

AKR has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Finally, Truist Financial decreased their price objective on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Acadia Realty Trust currently has a consensus rating of “Hold” and an average price target of $22.33.

About Acadia Realty Trust

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.