Barclays PLC raised its position in Acadia Realty Trust (NYSE:AKR - Free Report) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 776,869 shares of the real estate investment trust's stock after acquiring an additional 81,853 shares during the quarter. Barclays PLC owned approximately 0.65% of Acadia Realty Trust worth $18,240,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Formulas purchased a new position in Acadia Realty Trust during the 3rd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Acadia Realty Trust by 35.0% during the third 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 buying an additional 1,039 shares during the period. SG Americas Securities LLC bought a new position in shares of Acadia Realty Trust during the second quarter valued at approximately $103,000. Algert Global LLC purchased a new stake in Acadia Realty Trust in the second quarter worth $186,000. Finally, Custom Index Systems LLC bought a new stake in Acadia Realty Trust in the third quarter valued at $202,000. 97.65% of the stock is owned by institutional investors.
AKR has been the topic of a number of research reports. Truist Financial lifted their target price 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. Compass Point upgraded 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, StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Acadia Realty Trust has a consensus rating of "Hold" and a consensus price target of $22.40.
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AKR stock opened at $25.35 on Friday. The business has a 50 day moving average of $24.73 and a 200 day moving average of $21.89. The firm has a market cap of $3.03 billion, a PE ratio of 281.67, a price-to-earnings-growth ratio of 6.32 and a beta of 1.46. Acadia Realty Trust has a twelve month low of $16.09 and a twelve month high of $26.29. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. Acadia Realty Trust's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.00%. Acadia Realty Trust's dividend payout ratio is 844.44%.
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.
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