Metis Global Partners LLC Acquires New Stake in Acadia Realty Trust (NYSE:AKR)

Metis Global Partners LLC bought a new position in shares of Acadia Realty Trust (NYSE:AKR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,848 shares of the real estate investment trust’s stock, valued at approximately $255,000.

A number of other hedge funds have also modified their holdings of AKR. Sumitomo Mitsui Trust Group Inc. grew its stake in Acadia Realty Trust by 3.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 114,905 shares of the real estate investment trust’s stock valued at $2,698,000 after acquiring an additional 3,842 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Acadia Realty Trust in the third quarter valued at approximately $849,000. Wolverine Asset Management LLC acquired a new position in Acadia Realty Trust during the third quarter worth $267,000. Crossmark Global Holdings Inc. purchased a new stake in Acadia Realty Trust in the 3rd quarter valued at $202,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Acadia Realty Trust by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after acquiring an additional 476 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Acadia Realty Trust Stock Up 0.2 %

Shares of NYSE AKR opened at $24.98 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $23.84 and its two-hundred day moving average is $20.85. Acadia Realty Trust has a 52-week low of $14.62 and a 52-week high of $25.58. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 277.56, a PEG ratio of 6.22 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data 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). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter in the prior year, the firm posted $0.27 EPS. Acadia Realty Trust’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.