Acadia Realty Trust (NYSE:AKR) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC cut its stake in Acadia Realty Trust (NYSE:AKR) by 68.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,096 shares of the real estate investment trust’s stock after selling 573,812 shares during the period. Easterly Investment Partners LLC’s holdings in Acadia Realty Trust were worth $6,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in Acadia Realty Trust during the 1st quarter worth approximately $58,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Acadia Realty Trust by 3.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,520 shares of the real estate investment trust’s stock worth $1,965,000 after acquiring an additional 3,387 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Acadia Realty Trust by 80.1% in the 1st quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock worth $941,000 after acquiring an additional 24,609 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Acadia Realty Trust by 14.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 33,130 shares of the real estate investment trust’s stock worth $564,000 after purchasing an additional 4,181 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Acadia Realty Trust by 5.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,619 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 932 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AKR shares. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $21.60.

Acadia Realty Trust Stock Down 0.5 %

Shares of AKR traded down $0.12 during mid-day trading on Friday, hitting $24.98. 480,529 shares of the company’s stock were exchanged, compared to its average volume of 997,575. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 278.89, a P/E/G ratio of 6.37 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $14.06 and a fifty-two week high of $25.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day moving average is $23.47 and its 200-day moving average is $20.38.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.04%. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

Acadia Realty Trust Company Profile

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.