Public Sector Pension Investment Board Lowers Holdings in Acadia Realty Trust (NYSE:AKR)

Public Sector Pension Investment Board reduced its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,442 shares of the real estate investment trust’s stock after selling 3,600 shares during the quarter. Public Sector Pension Investment Board owned 0.19% of Acadia Realty Trust worth $5,246,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its holdings in shares of Acadia Realty Trust by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock valued at $930,000 after purchasing an additional 1,200 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Acadia Realty Trust in the third quarter worth about $202,000. DekaBank Deutsche Girozentrale raised its position in shares of Acadia Realty Trust by 1.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock worth $2,234,000 after acquiring an additional 2,290 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Acadia Realty Trust by 148.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 220,860 shares of the real estate investment trust’s stock worth $3,958,000 after acquiring an additional 132,134 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its position in shares of Acadia Realty Trust by 250.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,098 shares of the real estate investment trust’s stock valued at $1,597,000 after acquiring an additional 63,671 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $25.85 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. Acadia Realty Trust has a 1 year low of $14.74 and a 1 year high of $26.29. The firm has a market capitalization of $3.09 billion, a PE ratio of 287.22, a P/E/G ratio of 6.53 and a beta of 1.46. The business’s 50 day moving average price is $24.28 and its 200-day moving average price is $21.30.

Acadia Realty Trust (NYSE:AKR) last announced its 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is 844.44%.

Analyst Ratings Changes

A number of equities analysts have issued reports on AKR shares. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Truist Financial boosted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust 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.