Duality Advisers LP acquired a new position in Acadia Realty Trust (NYSE:AKR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,532 shares of the real estate investment trust’s stock, valued at approximately $1,253,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor Group Holdings Inc. acquired a new position in Acadia Realty Trust during the 1st quarter valued at about $25,000. Advisor Group Inc. increased its stake in shares of Acadia Realty Trust by 25.9% during the fourth quarter. Advisor Group Inc. now owns 2,049 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 421 shares during the period. Eii Capital Management Inc. raised its holdings in Acadia Realty Trust by 19.4% during the first quarter. Eii Capital Management Inc. now owns 9,426 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 1,532 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Acadia Realty Trust by 28.5% in the first quarter. Envestnet Asset Management Inc. now owns 11,621 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 2,576 shares during the period. Finally, M&T Bank Corp bought a new position in Acadia Realty Trust during the 2nd quarter valued at $165,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.
Several brokerages have recently weighed in on AKR. ValuEngine upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Citigroup raised their price objective on shares of Acadia Realty Trust from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lowered shares of Acadia Realty Trust from a “neutral” rating to an “underweight” rating and set a $13.00 target price for the company. in a research note on Wednesday, April 22nd. Finally, SunTrust Banks dropped their price target on Acadia Realty Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.17.
AKR stock opened at $12.04 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $1.04 billion, a P/E ratio of 32.54, a P/E/G ratio of 8.96 and a beta of 1.09. Acadia Realty Trust has a 52-week low of $9.59 and a 52-week high of $29.55. The company’s 50 day simple moving average is $12.81 and its 200-day simple moving average is $16.48.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.29). The firm had revenue of $71.42 million for the quarter, compared to analysts’ expectations of $78.00 million. Acadia Realty Trust had a return on equity of 1.52% and a net margin of 11.02%. Sell-side analysts predict that Acadia Realty Trust will post 1.21 EPS for the current fiscal year.
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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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