SG Americas Securities LLC Increases Stake in Acadia Realty Trust (NYSE:AKR)

SG Americas Securities LLC raised its holdings in Acadia Realty Trust (NYSE:AKR) by 422.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,056 shares of the real estate investment trust’s stock after buying an additional 24,307 shares during the period. SG Americas Securities LLC’s holdings in Acadia Realty Trust were worth $706,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AKR. Algert Global LLC purchased a new position in Acadia Realty Trust in the second quarter valued at $186,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Acadia Realty Trust by 250.4% in 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 buying an additional 63,671 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Acadia Realty Trust by 10.0% during the second quarter. The Manufacturers Life Insurance Company now owns 52,697 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 4,810 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $18,070,000. Finally, Squarepoint Ops LLC raised its holdings in Acadia Realty Trust by 16.3% in the second quarter. Squarepoint Ops LLC now owns 60,075 shares of the real estate investment trust’s stock valued at $1,077,000 after acquiring an additional 8,421 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $23.56 on Monday. The company has a fifty day moving average of $22.41 and a two-hundred day moving average of $19.41. The company has a market capitalization of $2.48 billion, a PE ratio of 19.51, a P/E/G ratio of 6.04 and a beta of 1.47. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $23.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The firm had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, analysts expect that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 3.23%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18.

Analyst Ratings Changes

Several research firms have commented on AKR. 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. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research note on Wednesday, June 26th. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $27.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Acadia Realty Trust currently has an average 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.