Handelsbanken Fonder AB Purchases 10,500 Shares of Acadia Realty Trust (NYSE:AKR)

Handelsbanken Fonder AB raised its position in Acadia Realty Trust (NYSE:AKR) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,932 shares of the real estate investment trust’s stock after purchasing an additional 10,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Acadia Realty Trust were worth $773,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Acadia Realty Trust in the first quarter valued at about $58,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Acadia Realty Trust by 3.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,520 shares of the real estate investment trust’s stock valued at $1,965,000 after buying an additional 3,387 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Acadia Realty Trust by 7.0% in the first quarter. State of Alaska Department of Revenue now owns 109,813 shares of the real estate investment trust’s stock valued at $1,866,000 after buying an additional 7,228 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of Acadia Realty Trust by 6.4% in the first quarter. Maryland State Retirement & Pension System now owns 36,854 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 2,203 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Acadia Realty Trust by 16.9% in the first quarter. Principal Financial Group Inc. now owns 580,469 shares of the real estate investment trust’s stock valued at $9,874,000 after buying an additional 83,794 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Trading Up 1.0 %

Shares of Acadia Realty Trust stock opened at $23.56 on Friday. 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 has a 52 week low of $13.24 and a 52 week high of $23.68. The stock has a 50 day moving average price of $22.41 and a two-hundred day moving average price of $19.39. The stock has a market capitalization of $2.48 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data 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). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was down 3.0% on a year-over-year basis. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18.

Wall Street Analyst Weigh In

AKR has been the subject of several recent research reports. 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 note on Wednesday, August 28th. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $27.00 in a research note on Thursday. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.60.

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.