Public Employees Retirement System of Ohio Buys 4,086 Shares of Acadia Realty Trust (NYSE:AKR)

Public Employees Retirement System of Ohio raised its position in shares of Acadia Realty Trust (NYSE:AKR) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,650 shares of the real estate investment trust’s stock after acquiring an additional 4,086 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.13% of Acadia Realty Trust worth $3,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AKR. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust during the 3rd quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 1,039 shares during the period. SG Americas Securities LLC bought a new position in shares of Acadia Realty Trust during the second quarter valued at approximately $103,000. Custom Index Systems LLC purchased a new stake in shares of Acadia Realty Trust in the third quarter worth approximately $202,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Acadia Realty Trust during the 3rd quarter worth approximately $202,000. Institutional investors own 97.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial raised their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Compass Point raised 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 research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.40.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock opened at $25.35 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average price is $24.73 and its 200-day moving average price is $21.93. The firm has a market cap of $3.03 billion, a P/E ratio of 281.67, a P/E/G ratio of 6.32 and a beta of 1.46. Acadia Realty Trust has a 12 month low of $16.09 and a 12 month high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. During the same period last year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Acadia Realty Trust will post 1.28 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, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.00%. Acadia Realty Trust’s dividend payout ratio is currently 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.