abrdn plc Buys 1,954 Shares of Acadia Realty Trust (NYSE:AKR)

abrdn plc lifted its stake in Acadia Realty Trust (NYSE:AKR) by 10.0% during the 3rd quarter, Holdings Channel reports. The firm owned 21,535 shares of the real estate investment trust’s stock after acquiring an additional 1,954 shares during the period. abrdn plc’s holdings in Acadia Realty Trust were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Custom Index Systems LLC bought a new position in Acadia Realty Trust during the third quarter worth about $202,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 1,039 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Acadia Realty Trust by 2.5% during 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. USA Financial Formulas bought a new position in Acadia Realty Trust during the third quarter worth about $80,000. Finally, Handelsbanken Fonder AB lifted its holdings in Acadia Realty Trust by 46.8% during the third quarter. Handelsbanken Fonder AB now owns 32,932 shares of the real estate investment trust’s stock worth $773,000 after acquiring an additional 10,500 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial lifted their target price on 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 upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target 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 stock. According to data from MarketBeat, Acadia Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Acadia Realty Trust Price Performance

Shares of NYSE AKR opened at $24.39 on Tuesday. The business’s 50 day moving average price is $23.27 and its two-hundred day moving average price is $20.21. The company has a market cap of $2.92 billion, a PE ratio of 271.00, a price-to-earnings-growth ratio of 6.37 and a beta of 1.46. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a twelve month low of $14.06 and a twelve month high of $24.92.

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 analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. Acadia Realty Trust’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, analysts predict that Acadia Realty Trust will post 1.29 EPS 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.