M&G PLC Takes Position in Acadia Realty Trust $AKR

M&G PLC purchased a new position in Acadia Realty Trust (NYSE:AKR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,275 shares of the real estate investment trust’s stock, valued at approximately $195,000.

Several other large investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new position in Acadia Realty Trust during the 1st quarter valued at $364,000. Bank of New York Mellon Corp boosted its stake in shares of Acadia Realty Trust by 10.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,227,613 shares of the real estate investment trust’s stock valued at $25,718,000 after purchasing an additional 116,855 shares in the last quarter. Arizona State Retirement System increased its position in shares of Acadia Realty Trust by 12.3% during the first quarter. Arizona State Retirement System now owns 34,321 shares of the real estate investment trust’s stock valued at $719,000 after buying an additional 3,753 shares during the period. New York State Common Retirement Fund increased its position in shares of Acadia Realty Trust by 13.8% during the first quarter. New York State Common Retirement Fund now owns 37,147 shares of the real estate investment trust’s stock valued at $778,000 after buying an additional 4,500 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Acadia Realty Trust by 44.0% in the first quarter. Victory Capital Management Inc. now owns 237,364 shares of the real estate investment trust’s stock worth $4,973,000 after buying an additional 72,538 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AKR has been the topic of several research reports. Zacks Research cut Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. LADENBURG THALM/SH SH assumed coverage on Acadia Realty Trust in a research note on Tuesday, September 9th. They issued a “neutral” rating and a $21.00 target price for the company. Wall Street Zen upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, October 8th. Finally, Citigroup raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $23.00 in a research report on Friday, September 12th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.33.

Acadia Realty Trust Trading Down 0.5%

NYSE AKR opened at $20.08 on Friday. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $19.80 and its 200-day moving average price is $19.40. The stock has a market cap of $2.63 billion, a P/E ratio of 167.31, a P/E/G ratio of 2.78 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. Acadia Realty Trust had a net margin of 4.21% and a return on equity of 0.63%. The company had revenue of $101.01 million for the quarter, compared to analysts’ expectations of $92.78 million. During the same quarter in the previous year, the business posted $0.32 EPS. Acadia Realty Trust’s revenue was up 15.1% compared to the same quarter last year. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.340 EPS. As a group, equities analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.0%. Acadia Realty Trust’s dividend payout ratio is presently 666.67%.

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.