Fmr LLC Acquires 7,124,403 Shares of Acadia Realty Trust (NYSE:AKR)

Fmr LLC boosted its holdings in Acadia Realty Trust (NYSE:AKR) by 290.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,578,771 shares of the real estate investment trust’s stock after acquiring an additional 7,124,403 shares during the quarter. Fmr LLC owned 0.08% of Acadia Realty Trust worth $224,910,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 572 shares during the period. USA Financial Formulas acquired a new stake in Acadia Realty Trust in the 3rd quarter valued at $80,000. Mirae Asset Global Investments Co. Ltd. grew its position in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,039 shares during the period. SG Americas Securities LLC acquired a new position in Acadia Realty Trust during the second quarter worth $103,000. Finally, Algert Global LLC bought a new position in shares of Acadia Realty Trust during the second quarter valued at $186,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.60.

Acadia Realty Trust Trading Down 0.9 %

Shares of NYSE AKR opened at $25.63 on Tuesday. Acadia Realty Trust has a 1-year low of $15.48 and a 1-year high of $26.29. The company has a 50-day moving average of $24.28 and a two-hundred day moving average of $21.32. The company has a market cap of $3.07 billion, a PE ratio of 284.78, a P/E/G ratio of 6.53 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). The firm had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. Acadia Realty Trust’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, equities analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

Acadia Realty Trust 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.