Bailard Inc. Makes New Investment in Acadia Realty Trust (NYSE:AKR)

Bailard Inc. bought a new stake in Acadia Realty Trust (NYSE:AKR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,000 shares of the real estate investment trust’s stock, valued at approximately $797,000.

Several other hedge funds also recently made changes to their positions in AKR. Asset Management One Co. Ltd. raised its holdings in Acadia Realty Trust by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after purchasing an additional 476 shares in the last quarter. USA Financial Formulas lifted its position in Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 489 shares during the period. Monument Capital Management lifted its position in Acadia Realty Trust by 3.7% during the fourth quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 489 shares during the period. Smartleaf Asset Management LLC lifted its position in Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 717 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 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. 97.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AKR has been the subject of several recent research reports. Truist Financial raised their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One investment 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. Based on data from MarketBeat, Acadia Realty Trust currently has an average rating of “Hold” and a consensus target price of $23.00.

Acadia Realty Trust Price Performance

AKR opened at $22.77 on Tuesday. The stock has a 50-day moving average price of $23.27 and a 200-day moving average price 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 results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Sell-side analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

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

About Acadia Realty Trust

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.