TIAA CREF Investment Management LLC Buys 15,096 Shares of Acadia Realty Trust (AKR)

TIAA CREF Investment Management LLC raised its stake in Acadia Realty Trust (NYSE:AKR) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 226,592 shares of the real estate investment trust’s stock after purchasing an additional 15,096 shares during the quarter. TIAA CREF Investment Management LLC owned 0.27% of Acadia Realty Trust worth $6,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY lifted its position in Acadia Realty Trust by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 59,930 shares of the real estate investment trust’s stock valued at $1,801,000 after purchasing an additional 155 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Acadia Realty Trust by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 18,470 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 290 shares during the last quarter. GAM Holding AG lifted its position in Acadia Realty Trust by 5.5% in the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 356 shares during the last quarter. Texas Permanent School Fund lifted its position in Acadia Realty Trust by 0.9% in the second quarter. Texas Permanent School Fund now owns 61,862 shares of the real estate investment trust’s stock valued at $1,720,000 after purchasing an additional 534 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in Acadia Realty Trust by 6.8% in the first quarter. Tudor Investment Corp ET AL now owns 12,218 shares of the real estate investment trust’s stock valued at $367,000 after purchasing an additional 778 shares during the last quarter.

Acadia Realty Trust (NYSE:AKR) opened at 30.46 on Friday. Acadia Realty Trust has a one year low of $26.70 and a one year high of $35.46. The company’s 50 day moving average price is $29.28 and its 200-day moving average price is $28.92. The company has a market cap of $2.55 billion, a P/E ratio of 47.15 and a beta of 0.60.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The company had revenue of $59.50 million during the quarter, compared to analysts’ expectations of $53.72 million. During the same quarter in the previous year, the business earned $0.37 EPS. Acadia Realty Trust’s revenue was up 35.2% compared to the same quarter last year. On average, analysts forecast that Acadia Realty Trust will post $0.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Thursday, September 28th. Acadia Realty Trust’s payout ratio is currently 162.50%.

Several brokerages have weighed in on AKR. Zacks Investment Research upgraded Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, July 28th. Boenning Scattergood set a $35.00 price objective on Acadia Realty Trust and gave the company a “buy” rating in a research report on Thursday, July 27th. KeyCorp lowered their price objective on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. BidaskClub upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $36.00 price objective on shares of Acadia Realty Trust in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.50.

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Acadia Realty Trust Profile

Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.

Institutional Ownership by Quarter for Acadia Realty Trust (NYSE:AKR)

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