Acadia Realty Trust (NYSE:AKR) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in Acadia Realty Trust (NYSE:AKR) by 148.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,860 shares of the real estate investment trust’s stock after purchasing an additional 132,134 shares during the period. Thrivent Financial for Lutherans owned approximately 0.21% of Acadia Realty Trust worth $3,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in Acadia Realty Trust by 7.7% in the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after buying an additional 1,192,138 shares during the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of Acadia Realty Trust in the 1st quarter valued at approximately $18,139,000. Cohen & Steers Inc. lifted its holdings 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 worth $268,273,000 after acquiring an additional 776,121 shares during the last quarter. Norges Bank purchased a new position in shares of Acadia Realty Trust during the 4th quarter worth approximately $10,414,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in 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 during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Acadia Realty Trust Price Performance

AKR stock opened at $23.16 on Friday. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $23.37. The firm has a market capitalization of $2.44 billion, a P/E ratio of 289.50, a P/E/G ratio of 5.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day moving average is $21.95 and its two-hundred day moving average is $18.92.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $87.25 million during the quarter, compared to analysts’ expectations of $70.16 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. Analysts anticipate 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 declared 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. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.28%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 900.00%.

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.