OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 54,649 Acadia Realty Trust $AKR

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Acadia Realty Trust (NYSE:AKR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 54,649 shares of the real estate investment trust’s stock, valued at approximately $1,122,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Acadia Realty Trust by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,939,618 shares of the real estate investment trust’s stock valued at $401,783,000 after purchasing an additional 114,473 shares during the period. State Street Corp lifted its position in Acadia Realty Trust by 9.3% during the 2nd quarter. State Street Corp now owns 7,450,026 shares of the real estate investment trust’s stock valued at $139,802,000 after purchasing an additional 632,722 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Acadia Realty Trust by 74.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,572,852 shares of the real estate investment trust’s stock valued at $114,466,000 after purchasing an additional 2,370,553 shares during the period. Alyeska Investment Group L.P. lifted its position in Acadia Realty Trust by 55.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,909,671 shares of the real estate investment trust’s stock valued at $58,630,000 after purchasing an additional 1,042,228 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in Acadia Realty Trust by 34.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,424,302 shares of the real estate investment trust’s stock valued at $26,449,000 after purchasing an additional 366,113 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $20.77 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $2.72 billion, a PE ratio of 230.78, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The stock has a 50-day moving average of $20.33 and a 200-day moving average of $20.21. Acadia Realty Trust has a one year low of $18.04 and a one year high of $22.36.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). The company had revenue of $104.77 million during the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, sell-side analysts expect that Acadia Realty Trust will post 1.23 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio is presently 888.89%.

Analyst Upgrades and Downgrades

AKR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Acadia Realty Trust from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, March 20th. Zacks Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Monday. Wall Street Zen cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Citigroup upped their price target on Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Acadia Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $22.25.

Acadia Realty Trust Profile

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.