Illinois Municipal Retirement Fund Sells 772 Shares of Acadia Realty Trust (NYSE:AKR)

Illinois Municipal Retirement Fund reduced its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,677 shares of the real estate investment trust’s stock after selling 772 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Acadia Realty Trust worth $912,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Acadia Realty Trust by 1.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,003 shares of the real estate investment trust’s stock worth $631,000 after acquiring an additional 781 shares during the period. Natixis Advisors L.P. grew its holdings in Acadia Realty Trust by 5.0% during the 3rd quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 997 shares during the period. Daiwa Securities Group Inc. grew its holdings in Acadia Realty Trust by 3.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,359 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 1,123 shares during the period. Nisa Investment Advisors LLC grew its holdings in Acadia Realty Trust by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 55,229 shares of the real estate investment trust’s stock worth $793,000 after acquiring an additional 1,241 shares during the period. Finally, Swiss National Bank grew its holdings in Acadia Realty Trust by 1.0% during the 3rd quarter. Swiss National Bank now owns 209,300 shares of the real estate investment trust’s stock worth $3,003,000 after acquiring an additional 2,100 shares during the period. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Price Performance

AKR stock opened at $17.32 on Monday. The company has a market capitalization of $1.78 billion, a P/E ratio of 91.16, a price-to-earnings-growth ratio of 11.56 and a beta of 1.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.73. The business has a 50-day simple moving average of $16.72 and a two-hundred day simple moving average of $16.20.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a yield of 4.16%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 378.97%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $15.00 to $20.00 in a research note on Tuesday, January 2nd. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $20.00 in a research note on Friday, April 5th. Finally, Truist Financial downgraded Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.50.

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.