Acadia Realty Trust (NYSE:AKR) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its stake in Acadia Realty Trust (NYSE:AKR) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,368 shares of the real estate investment trust’s stock after selling 1,536 shares during the quarter. Inspire Investing LLC’s holdings in Acadia Realty Trust were worth $401,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AKR. Dimensional Fund Advisors LP increased its stake in shares of Acadia Realty Trust by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,361,088 shares of the real estate investment trust’s stock worth $23,126,000 after purchasing an additional 16,812 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Acadia Realty Trust during the 4th quarter worth approximately $174,000. Norges Bank acquired a new position in shares of Acadia Realty Trust during the fourth quarter valued at approximately $10,414,000. US Bancorp DE lifted its position in shares of Acadia Realty Trust by 3,537.2% in the fourth quarter. US Bancorp DE now owns 35,936 shares of the real estate investment trust’s stock valued at $611,000 after acquiring an additional 34,948 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Acadia Realty Trust by 4.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 113,776 shares of the real estate investment trust’s stock worth $1,933,000 after acquiring an additional 4,800 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AKR has been the topic of a number of research reports. Truist Financial raised their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Compass Point boosted their price target on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Friday. Finally, JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.80.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $22.71 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $21.55 and a 200 day moving average price of $18.64. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $23.29. The stock has a market cap of $2.34 billion, a P/E ratio of 284.25, a PEG ratio of 5.85 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The firm had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 EPS. Sell-side analysts anticipate that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.35%. Acadia Realty Trust’s dividend payout ratio is currently 950.00%.

Acadia Realty Trust Company 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.