Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Acadia Realty Trust (NYSE:AKR)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 35.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,005 shares of the real estate investment trust’s stock after acquiring an additional 1,039 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Acadia Realty Trust were worth $93,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Permanent School Fund Corp raised its stake in Acadia Realty Trust by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock valued at $1,614,000 after purchasing an additional 531 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 572 shares during the last quarter. IFM Investors Pty Ltd grew its position in Acadia Realty Trust by 2.5% in the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 582 shares in the last quarter. Arizona State Retirement System raised its position in Acadia Realty Trust by 2.6% during the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 724 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Acadia Realty Trust by 8.0% during the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

AKR has been the topic of a number of research reports. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. 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 research note on Wednesday, August 28th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $24.39 on Tuesday. The company has a market capitalization of $2.92 billion, a P/E ratio of 271.00, a PEG ratio of 6.37 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $14.06 and a fifty-two week high of $24.92. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.14. The stock has a 50 day moving average price of $23.27 and a two-hundred day moving average price of $20.21.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. During the same period in the previous year, the company earned $0.27 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that Acadia Realty Trust will post 1.29 earnings per share for the current year.

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.