Allianz Asset Management GmbH Raises Position in Acadia Realty Trust $AKR

Allianz Asset Management GmbH raised its position in Acadia Realty Trust (NYSE:AKR) by 62.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,979 shares of the real estate investment trust’s stock after acquiring an additional 48,279 shares during the quarter. Allianz Asset Management GmbH owned 0.10% of Acadia Realty Trust worth $2,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in shares of Acadia Realty Trust by 19.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 114,758 shares of the real estate investment trust’s stock valued at $2,312,000 after buying an additional 18,460 shares during the last quarter. AlphaQuest LLC bought a new position in Acadia Realty Trust during the 3rd quarter worth $408,000. Arizona State Retirement System lifted its position in Acadia Realty Trust by 10.9% in the 3rd quarter. Arizona State Retirement System now owns 38,752 shares of the real estate investment trust’s stock valued at $781,000 after purchasing an additional 3,797 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Acadia Realty Trust by 11.7% during the third quarter. Resona Asset Management Co. Ltd. now owns 58,499 shares of the real estate investment trust’s stock worth $1,181,000 after buying an additional 6,109 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of Acadia Realty Trust by 15.3% in the third quarter. UniSuper Management Pty Ltd now owns 37,700 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 5,000 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AKR shares. Truist Financial dropped their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Acadia Realty Trust has an average rating of “Hold” and an average target price of $22.00.

Acadia Realty Trust Trading Down 4.1%

Acadia Realty Trust stock opened at $20.55 on Thursday. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $24.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $20.48 and a two-hundred day moving average price of $19.96. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 228.33, a price-to-earnings-growth ratio of 3.71 and a beta of 1.14.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.28). The company had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. Acadia Realty Trust’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. As a group, equities analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

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.