Acadia Realty Trust (NYSE:AKR) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Acadia Realty Trust (NYSE:AKR) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,727 shares of the real estate investment trust’s stock after buying an additional 2,268 shares during the quarter. Van ECK Associates Corp’s holdings in Acadia Realty Trust were worth $431,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp lifted its position in Acadia Realty Trust by 0.6% in the 2nd 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 during the last quarter. GAMMA Investing LLC raised its holdings in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 572 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in 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 buying an additional 582 shares in the last quarter. Arizona State Retirement System grew its holdings in Acadia Realty Trust by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock worth $517,000 after buying an additional 724 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Acadia Realty Trust by 8.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 740 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $24.70 on Wednesday. The company has a 50-day moving average of $23.61 and a 200-day moving average of $20.58. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 274.44, a price-to-earnings-growth ratio of 6.32 and a beta of 1.46. The company has a current ratio of 1.14, a quick 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 $25.58.

Acadia Realty Trust (NYSE:AKR) last issued its 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 the consensus estimate of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AKR shares. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Truist Financial upped 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 upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.60.

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.