Jennison Associates LLC Purchases New Holdings in Acadia Realty Trust (NYSE:AKR)

Jennison Associates LLC purchased a new stake in Acadia Realty Trust (NYSE:AKR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 49,890 shares of the real estate investment trust’s stock, valued at approximately $1,171,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 572 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust in the 3rd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Acadia Realty Trust by 35.0% in the 3rd 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 purchasing an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new position in Acadia Realty Trust during the second quarter worth about $103,000. Finally, Custom Index Systems LLC bought a new position in Acadia Realty Trust during the third quarter worth about $202,000. Institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial increased their price objective 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $25.22 on Friday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 280.22, a PEG ratio of 6.32 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $14.72 and a fifty-two week high of $25.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a fifty day moving average price of $23.97 and a 200-day moving average price of $20.99.

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 for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.01%. Acadia Realty Trust’s dividend payout ratio (DPR) is 844.44%.

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.