Intech Investment Management LLC Takes $242,000 Position in Acadia Realty Trust (NYSE:AKR)

Intech Investment Management LLC acquired a new stake in Acadia Realty Trust (NYSE:AKR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,492 shares of the real estate investment trust’s stock, valued at approximately $242,000.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position 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 during the period. Norges Bank acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth $10,414,000. US Bancorp DE raised its position in shares of Acadia Realty Trust by 3,537.2% during the fourth quarter. US Bancorp DE now owns 35,936 shares of the real estate investment trust’s stock worth $611,000 after purchasing an additional 34,948 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Acadia Realty Trust by 4.4% during 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 purchasing an additional 4,800 shares during the period. Finally, Cohen & Steers Inc. raised its position in shares of Acadia Realty Trust by 5.2% during the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after purchasing an additional 776,121 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Up 0.8 %

NYSE:AKR opened at $23.16 on Friday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 289.50, a PEG ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $23.37. 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 business’s fifty day moving average price is $21.95 and its 200 day moving average price is $18.92.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share 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 firm had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. During the same period in the previous year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio is presently 900.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Compass Point boosted their target price on Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Wednesday, June 26th. Finally, StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.