Amalgamated Bank Decreases Holdings in Acadia Realty Trust (NYSE:AKR)

Amalgamated Bank trimmed its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,462 shares of the real estate investment trust’s stock after selling 750 shares during the period. Amalgamated Bank’s holdings in Acadia Realty Trust were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings 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 last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust in the 1st quarter valued at about $58,000. SG Americas Securities LLC purchased a new stake in shares of Acadia Realty Trust in the 2nd quarter valued at about $103,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Acadia Realty Trust by 8.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 740 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Acadia Realty Trust in the 1st quarter valued at about $260,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Compass Point upped 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. JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Wednesday, June 26th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial upped their price objective 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.80.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $23.16 on Friday. 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 50 day moving average is $21.95 and its two-hundred day moving average is $18.92. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $23.37. The stock 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 (NYSE:AKR) last released its earnings results 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 analyst estimates of $70.16 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Research analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm 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 dividend of $0.19 per share. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 3.28%. Acadia Realty Trust’s payout ratio is presently 900.00%.

About Acadia Realty Trust

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.