abrdn plc Has $946,000 Stake in Acadia Realty Trust (NYSE:AKR)

abrdn plc increased its position in shares of Acadia Realty Trust (NYSE:AKR) by 83.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,438 shares of the real estate investment trust’s stock after buying an additional 17,903 shares during the period. abrdn plc’s holdings in Acadia Realty Trust were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AKR. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 period. USA Financial Formulas lifted its stake in Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 489 shares during the period. KBC Group NV boosted its holdings in shares of Acadia Realty Trust by 44.1% during the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 1,448 shares in the last quarter. Custom Index Systems LLC acquired a new stake in shares of Acadia Realty Trust during the 3rd quarter worth approximately $202,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Acadia Realty Trust in the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Trading Down 0.9 %

Shares of AKR opened at $23.27 on Tuesday. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The business has a 50-day moving average of $23.72 and a 200 day moving average of $23.43. The firm has a market cap of $2.78 billion, a P/E ratio of 258.58, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial lifted their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acadia Realty Trust presently has an average rating of “Hold” and an average target price of $23.00.

About Acadia Realty Trust

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.