Fisher Asset Management LLC Decreases Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Fisher Asset Management LLC lowered its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 746,011 shares of the real estate investment trust’s stock after selling 8,280 shares during the period. Fisher Asset Management LLC’s holdings in Acadia Realty Trust were worth $18,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its holdings in Acadia Realty Trust by 14.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 18,125 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 2,282 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Acadia Realty Trust by 13.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,112 shares of the real estate investment trust’s stock worth $679,000 after buying an additional 3,300 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Acadia Realty Trust by 7.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 57,667 shares of the real estate investment trust’s stock worth $1,393,000 after buying an additional 4,242 shares in the last quarter. Amalgamated Bank raised its position in Acadia Realty Trust by 12.2% during the fourth quarter. Amalgamated Bank now owns 34,686 shares of the real estate investment trust’s stock worth $838,000 after acquiring an additional 3,783 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Acadia Realty Trust by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,110,758 shares of the real estate investment trust’s stock worth $26,836,000 after acquiring an additional 56,614 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $22.77 on Tuesday. The firm has a 50 day simple moving average of $23.27 and a 200-day simple moving average of $23.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $2.73 billion, a PE ratio of 126.50, a P/E/G ratio of 6.09 and a beta of 1.46. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. On average, equities analysts expect that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s payout ratio is currently 444.44%.

Wall Street Analyst Weigh In

AKR has been the subject of a number of research reports. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial lifted their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.00.

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.