Acadia Realty Trust $AKR Stock Position Raised by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of Acadia Realty Trust (NYSE:AKR) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,780 shares of the real estate investment trust’s stock after buying an additional 35,088 shares during the quarter. Rhumbline Advisers’ holdings in Acadia Realty Trust were worth $7,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AKR. Alyeska Investment Group L.P. bought a new position in Acadia Realty Trust during the first quarter valued at approximately $23,872,000. Alliancebernstein L.P. grew its position in Acadia Realty Trust by 26.8% in the first quarter. Alliancebernstein L.P. now owns 3,076,073 shares of the real estate investment trust’s stock worth $64,444,000 after acquiring an additional 649,459 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Acadia Realty Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 18,582,662 shares of the real estate investment trust’s stock worth $389,307,000 after purchasing an additional 485,394 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Acadia Realty Trust during the 1st quarter valued at $7,994,000. Finally, Geode Capital Management LLC raised its holdings in shares of Acadia Realty Trust by 10.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,367,692 shares of the real estate investment trust’s stock valued at $62,546,000 after purchasing an additional 322,607 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, October 8th. Truist Financial reduced their target price on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Citigroup raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $23.00 in a research report on Friday, September 12th. Finally, Zacks Research lowered shares of Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.00.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $19.80 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $19.83 and a 200 day moving average price of $19.44. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 165.03, a PEG ratio of 3.28 and a beta of 1.12. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $25.83.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $101.01 million during the quarter, compared to analyst estimates of $92.78 million. Acadia Realty Trust had a return on equity of 0.63% and a net margin of 4.21%.The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.340 EPS. Research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 666.67%.

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.