AQR Capital Management LLC Has $295,000 Position in Acadia Realty Trust (NYSE:AKR)

AQR Capital Management LLC reduced its stake in shares of Acadia Realty Trust (NYSE:AKR) by 27.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,437 shares of the real estate investment trust’s stock after selling 6,245 shares during the quarter. AQR Capital Management LLC’s holdings in Acadia Realty Trust were worth $295,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AKR. Allspring Global Investments Holdings LLC bought a new position in Acadia Realty Trust during the first quarter valued at approximately $58,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Acadia Realty Trust by 3.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,520 shares of the real estate investment trust’s stock valued at $1,965,000 after acquiring an additional 3,387 shares in the last quarter. State of Alaska Department of Revenue raised its position in Acadia Realty Trust by 7.0% during the first quarter. State of Alaska Department of Revenue now owns 109,813 shares of the real estate investment trust’s stock valued at $1,866,000 after acquiring an additional 7,228 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Acadia Realty Trust by 6.4% during the first quarter. Maryland State Retirement & Pension System now owns 36,854 shares of the real estate investment trust’s stock valued at $615,000 after acquiring an additional 2,203 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Acadia Realty Trust by 16.9% during the first quarter. Principal Financial Group Inc. now owns 580,469 shares of the real estate investment trust’s stock valued at $9,874,000 after acquiring an additional 83,794 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Wednesday, June 26th. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.60.

Acadia Realty Trust Trading Up 1.3 %

NYSE:AKR opened at $24.65 on Thursday. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $24.73. The company’s 50 day moving average is $22.60 and its 200-day moving average is $19.54. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 308.13, a P/E/G ratio of 6.04 and a beta of 1.47. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76.

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). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. Equities analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 3.08%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is 950.00%.

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.