GSA Capital Partners LLP Buys New Stake in Acadia Realty Trust (NYSE:AKR)

GSA Capital Partners LLP purchased a new position in shares of Acadia Realty Trust (NYSE:AKR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 36,150 shares of the real estate investment trust’s stock, valued at approximately $849,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Acadia Realty Trust by 7.7% during the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after acquiring an additional 1,192,138 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Acadia Realty Trust by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after purchasing an additional 388,067 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Acadia Realty Trust by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock valued at $26,337,000 after purchasing an additional 75,233 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Acadia Realty Trust by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock valued at $21,090,000 after purchasing an additional 8,739 shares during the period. Finally, APG Asset Management US Inc. purchased a new stake in Acadia Realty Trust during the second quarter worth $18,070,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AKR has been the subject of a number of recent analyst reports. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial raised their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Trading Up 0.5 %

AKR stock opened at $24.60 on Friday. Acadia Realty Trust has a 12-month low of $14.62 and a 12-month high of $25.58. The business’s 50-day moving average is $23.74 and its 200 day moving average is $20.71. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 273.33, a PEG ratio of 6.25 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). The firm had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

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.