Franklin Resources Inc. Decreases Stake in Acadia Realty Trust (NYSE:AKR)

Franklin Resources Inc. lessened its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,976 shares of the real estate investment trust’s stock after selling 587 shares during the quarter. Franklin Resources Inc.’s holdings in Acadia Realty Trust were worth $1,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust during the third quarter valued at approximately $80,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Acadia Realty Trust by 35.0% in 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 buying an additional 1,039 shares in the last quarter. Custom Index Systems LLC purchased a new stake in Acadia Realty Trust in the third quarter worth about $202,000. Crossmark Global Holdings Inc. purchased a new stake in Acadia Realty Trust in the third quarter worth about $202,000. Finally, Algert Global LLC bought a new stake in Acadia Realty Trust during the 2nd quarter valued at approximately $186,000. Institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AKR shares. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial increased their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.40.

Acadia Realty Trust Stock Down 0.7 %

Shares of NYSE AKR opened at $23.99 on Friday. The stock has a 50 day moving average price of $24.83 and a 200 day moving average price of $22.36. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 266.56, a PEG ratio of 6.41 and a beta of 1.46. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14.

Acadia Realty Trust (NYSE:AKR) last issued 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). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same period in the previous year, the business earned $0.27 EPS. Acadia Realty Trust’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.