State Street Corp Has $141.48 Million Position in Acadia Realty Trust (NYSE:AKR)

State Street Corp decreased its stake in Acadia Realty Trust (NYSE:AKR) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,977,513 shares of the real estate investment trust’s stock after selling 123,372 shares during the period. State Street Corp owned 5.00% of Acadia Realty Trust worth $141,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AKR. Centiva Capital LP bought a new position in Acadia Realty Trust during the third quarter worth $599,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Acadia Realty Trust by 381.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock worth $15,422,000 after acquiring an additional 520,319 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Acadia Realty Trust by 3.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,387 shares of the real estate investment trust’s stock valued at $1,700,000 after purchasing an additional 2,292 shares during the period. FMR LLC lifted its stake in shares of Acadia Realty Trust by 290.3% in the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Acadia Realty Trust by 7.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 56,746 shares of the real estate investment trust’s stock valued at $1,332,000 after purchasing an additional 4,049 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Stock Up 0.6 %

AKR stock opened at $25.35 on Friday. The stock’s 50 day simple moving average is $24.73 and its 200 day simple moving average is $21.89. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $3.03 billion, a P/E ratio of 281.67, a price-to-earnings-growth ratio of 6.32 and a beta of 1.46.

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

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AKR. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial boosted their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.40.

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.