JPMorgan Chase & Co. Sells 203,763 Shares of Acadia Realty Trust (NYSE:AKR)

JPMorgan Chase & Co. reduced its stake in shares of Acadia Realty Trust (NYSE:AKR) by 19.8% in the third quarter, HoldingsChannel.com reports. The firm owned 824,008 shares of the real estate investment trust’s stock after selling 203,763 shares during the period. JPMorgan Chase & Co.’s holdings in Acadia Realty Trust were worth $19,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its holdings in Acadia Realty Trust by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after buying an additional 476 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in Acadia Realty Trust by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock worth $1,614,000 after acquiring an additional 531 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Acadia Realty Trust by 2.5% in the 3rd 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 holdings in shares of Acadia Realty Trust by 2.6% in 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 valued at $93,000 after purchasing an additional 1,039 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Trading Down 1.0 %

Shares of AKR stock opened at $22.88 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 254.22, a PEG ratio of 6.41 and a beta of 1.47. The company’s fifty day simple moving average is $24.70 and its two-hundred day simple moving average is $22.76. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter last year, the business posted $0.27 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.32%. Acadia Realty Trust’s payout ratio is 844.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AKR shares. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial upped their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.00.

Acadia Realty Trust 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.