Bank of New York Mellon Corp Has $21.09 Million Stock Position in Acadia Realty Trust (NYSE:AKR)

Bank of New York Mellon Corp raised its position in Acadia Realty Trust (NYSE:AKR) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,176,907 shares of the real estate investment trust’s stock after acquiring an additional 8,739 shares during the period. Bank of New York Mellon Corp’s holdings in Acadia Realty Trust were worth $21,090,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of AKR. Vanguard Group Inc. lifted its holdings in shares of Acadia Realty Trust by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of Acadia Realty Trust by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock valued at $268,273,000 after buying an additional 776,121 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after buying an additional 388,067 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Acadia Realty Trust by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,682,989 shares of the real estate investment trust’s stock worth $28,594,000 after acquiring an additional 54,996 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Acadia Realty Trust by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,361,088 shares of the real estate investment trust’s stock worth $23,126,000 after acquiring an additional 16,812 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Down 0.6 %

NYSE:AKR opened at $22.61 on Friday. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $23.29. The firm has a 50-day moving average price of $20.70 and a two-hundred day moving average price of $18.22. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 282.63, a price-to-earnings-growth ratio of 5.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The business had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities analysts expect that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio (DPR) is 950.00%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AKR. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target for the company in a research note on Wednesday, June 26th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Truist Financial increased their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.40.

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.