Federated Hermes Inc. Reduces Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Federated Hermes Inc. lessened its holdings in Acadia Realty Trust (NYSE:AKR) by 56.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,500 shares of the real estate investment trust’s stock after selling 7,000 shares during the period. Federated Hermes Inc.’s holdings in Acadia Realty Trust were worth $99,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Cohen & Steers Inc. raised its position 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 valued at $268,273,000 after purchasing an additional 776,121 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Acadia Realty Trust by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock worth $143,741,000 after buying an additional 223,215 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Acadia Realty Trust by 7.7% during 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 buying an additional 1,192,138 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Acadia Realty Trust by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock valued at $930,000 after buying an additional 1,200 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Acadia Realty Trust in the 1st quarter valued at $260,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a report on Wednesday, June 26th. Truist Financial lifted their price objective 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. Finally, Compass Point increased their price objective on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.80.

Acadia Realty Trust Trading Down 0.3 %

Acadia Realty Trust stock opened at $23.16 on Thursday. The firm has a market cap of $2.44 billion, a PE ratio of 289.50, a P/E/G ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $23.35. The stock’s 50 day simple moving average is $21.82 and its two-hundred day simple moving average is $18.83. 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 results 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). The firm had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. 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. Investors of record on Monday, September 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is currently 900.00%.

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.