Algert Global LLC Invests $186,000 in Acadia Realty Trust (NYSE:AKR)

Algert Global LLC bought a new position in shares of Acadia Realty Trust (NYSE:AKR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,367 shares of the real estate investment trust’s stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AKR. Vanguard Group Inc. grew its holdings in Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after acquiring an additional 1,192,138 shares in the last quarter. Easterly Investment Partners LLC bought a new position in Acadia Realty Trust during the 1st quarter worth about $18,139,000. APG Asset Management US Inc. bought a new position in Acadia Realty Trust during the 2nd quarter worth about $18,070,000. Price T Rowe Associates Inc. MD grew its holdings in Acadia Realty Trust by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after acquiring an additional 388,067 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Acadia Realty Trust during the 2nd quarter worth about $5,090,000. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Stock Performance

AKR opened at $23.32 on Friday. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $23.56. 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 firm has a market capitalization of $2.41 billion, a PE ratio of 291.50, a P/E/G ratio of 5.98 and a beta of 1.47. The firm has a 50 day moving average of $22.37 and a two-hundred day moving average of $19.32.

Acadia Realty Trust (NYSE:AKR) last posted 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 business had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.26%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. Acadia Realty Trust’s payout ratio is 950.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, September 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 report on Wednesday, June 26th. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $27.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.60.

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.