Acadia Realty Trust (NYSE:AKR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in shares of Acadia Realty Trust (NYSE:AKR) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,400 shares of the real estate investment trust’s stock after selling 1,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Acadia Realty Trust were worth $1,182,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Acadia Realty Trust during the fourth quarter valued at $46,000. Sterling Capital Management LLC increased its holdings in Acadia Realty Trust by 960.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 3,344 shares during the last quarter. Sandia Investment Management LP purchased a new stake in Acadia Realty Trust during the 4th quarter worth approximately $121,000. Xponance Inc. bought a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $203,000. Finally, Walleye Capital LLC bought a new position in Acadia Realty Trust during the 4th quarter worth $224,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Price Performance

Shares of AKR stock opened at $18.80 on Friday. The stock has a 50 day moving average of $19.14 and a two-hundred day moving average of $20.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The company has a market capitalization of $2.46 billion, a P/E ratio of 117.48, a P/E/G ratio of 2.93 and a beta of 1.36.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a return on equity of 0.81% and a net margin of 5.36%. The company had revenue of $104.39 million during the quarter, compared to analysts’ expectations of $86.99 million. During the same period last year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts expect that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 4.26%. Acadia Realty Trust’s dividend payout ratio is 500.00%.

Analysts Set New Price Targets

Separately, Truist Financial upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, April 10th.

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.