State Street Corp Sells 123,372 Shares of Acadia Realty Trust (NYSE:AKR)

State Street Corp reduced its position in Acadia Realty Trust (NYSE:AKR) by 2.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,977,513 shares of the real estate investment trust’s stock after selling 123,372 shares during the period. State Street Corp’s holdings in Acadia Realty Trust were worth $141,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Acadia Realty Trust in the 2nd quarter worth approximately $103,000. Nisa Investment Advisors LLC lifted its position in shares of Acadia Realty Trust by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 55,378 shares of the real estate investment trust’s stock worth $1,002,000 after acquiring an additional 3,192 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Acadia Realty Trust by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock worth $930,000 after acquiring an additional 1,200 shares during the period. Bank of New York Mellon Corp grew its position in shares of Acadia Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock valued at $21,090,000 after purchasing an additional 8,739 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Acadia Realty Trust by 70.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,095 shares of the real estate investment trust’s stock worth $1,256,000 after purchasing an additional 28,908 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AKR has been the subject of a number of recent analyst reports. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.40.

Acadia Realty Trust Trading Up 0.6 %

Shares of Acadia Realty Trust stock opened at $25.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29. The firm has a market cap of $3.03 billion, a PE ratio of 281.67, a PEG ratio of 6.32 and a beta of 1.46. The company has a 50 day simple moving average of $24.73 and a two-hundred day simple moving average of $21.89.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results 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 return on equity of 0.48% and a net margin of 3.07%. The company had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts expect that Acadia Realty Trust will post 1.28 earnings per share 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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.00%. Acadia Realty Trust’s dividend payout ratio is 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.