Louisiana State Employees Retirement System Reduces Stock Position in Acadia Realty Trust (NYSE:AKR)

Louisiana State Employees Retirement System reduced its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,900 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Acadia Realty Trust were worth $1,195,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 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 worth $283,775,000 after buying an additional 1,192,138 shares during the period. Easterly Investment Partners LLC bought a new position in shares of Acadia Realty Trust during the first quarter valued at approximately $18,139,000. APG Asset Management US Inc. purchased a new stake in Acadia Realty Trust during the second quarter worth $18,070,000. Price T Rowe Associates Inc. MD boosted its position 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 valued at $150,511,000 after acquiring an additional 388,067 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Acadia Realty Trust in the second quarter valued at about $5,090,000. Institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Stock Down 1.2 %

NYSE AKR opened at $24.20 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.90 billion, a PE ratio of 268.89, a P/E/G ratio of 6.37 and a beta of 1.46. The business’s fifty day simple moving average is $23.27 and its 200-day simple moving average is $20.16. Acadia Realty Trust has a 52 week low of $14.06 and a 52 week high of $24.92.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data 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). The company had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.29 earnings per share for the current year.

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.