MQS Management LLC Acquires Shares of 13,588 Acadia Realty Trust (NYSE:AKR)

MQS Management LLC bought a new position in Acadia Realty Trust (NYSE:AKR) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 13,588 shares of the real estate investment trust’s stock, valued at approximately $243,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Acadia Realty Trust by 7.7% in the first 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 during the period. Easterly Investment Partners LLC purchased a new stake in shares of Acadia Realty Trust in the 1st quarter worth about $18,139,000. Cohen & Steers Inc. increased its stake in shares of Acadia Realty Trust by 5.2% in the 4th quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares in the last quarter. Norges Bank purchased a new position in Acadia Realty Trust during the 4th quarter valued at about $10,414,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in 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 worth $150,511,000 after acquiring an additional 388,067 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $22.71 on Friday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 283.88, a P/E/G ratio of 5.85 and a beta of 1.47. The business’s fifty day simple moving average is $21.62 and its two-hundred day simple moving average is $18.69. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $23.29. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Acadia Realty Trust’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate 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 given a dividend of $0.19 per share. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 3.35%. Acadia Realty Trust’s dividend payout ratio is 950.00%.

Wall Street Analyst Weigh In

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

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.