Victory Capital Management Inc. Sells 8,967 Shares of Acadia Realty Trust (NYSE:AKR)

Victory Capital Management Inc. lessened its stake in Acadia Realty Trust (NYSE:AKR) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,069 shares of the real estate investment trust’s stock after selling 8,967 shares during the period. Victory Capital Management Inc.’s holdings in Acadia Realty Trust were worth $3,336,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after acquiring an additional 1,192,138 shares during the period. APG Asset Management US Inc. bought a new stake in shares of Acadia Realty Trust during the 2nd quarter valued at $18,070,000. Price T Rowe Associates Inc. MD lifted 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 valued at $150,511,000 after buying an additional 388,067 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Acadia Realty Trust during the 2nd quarter valued at $5,090,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Acadia Realty Trust by 173.8% during the 2nd quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock valued at $4,745,000 after buying an additional 168,100 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Up 0.9 %

Shares of NYSE AKR opened at $25.22 on Friday. The firm’s 50-day moving average price is $23.97 and its 200-day moving average price is $20.99. 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 capitalization of $3.02 billion, a price-to-earnings ratio of 280.22, a P/E/G ratio of 6.32 and a beta of 1.46. Acadia Realty Trust has a 12-month low of $14.72 and a 12-month high of $25.58.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities research analysts anticipate that Acadia Realty Trust will post 1.28 EPS 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. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.01%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Wall Street Analyst Weigh In

AKR has been the topic of a number of analyst reports. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial boosted 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Company 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.