Acadia Realty Trust (NYSE:AKR) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in Acadia Realty Trust (NYSE:AKR) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,634 shares of the real estate investment trust’s stock after buying an additional 6,459 shares during the period. Hsbc Holdings PLC owned 0.08% of Acadia Realty Trust worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AKR. Vanguard Group Inc. lifted its stake in shares of Acadia Realty Trust by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Cohen & Steers Inc. lifted its stake 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Acadia Realty Trust by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after purchasing an additional 388,067 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Acadia Realty Trust by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock valued at $26,337,000 after purchasing an additional 75,233 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Acadia Realty Trust by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock valued at $21,090,000 after purchasing an additional 8,739 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Price Performance

AKR stock opened at $23.16 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $23.37. The stock’s 50 day moving average is $21.95 and its two-hundred day moving average is $18.91. The company has a market capitalization 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 (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) 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 business had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Acadia Realty Trust’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.28%. Acadia Realty Trust’s payout ratio is currently 900.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AKR shares. Compass Point lifted their price objective on Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial raised their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.80.

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.