GAMMA Investing LLC Makes New Investment in Acadia Realty Trust (NYSE:AKR)

GAMMA Investing LLC bought a new position in shares of Acadia Realty Trust (NYSE:AKR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,566 shares of the real estate investment trust’s stock, valued at approximately $61,000.

Other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in Acadia Realty Trust by 189.9% in the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 2,152 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Acadia Realty Trust by 128.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,088 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 2,295 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Acadia Realty Trust in the third quarter valued at approximately $185,000. Natixis Advisors L.P. grew its stake in Acadia Realty Trust by 5.0% in the third quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 997 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased 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 purchasing an additional 1,123 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Trading Down 1.1 %

AKR opened at $17.09 on Thursday. Acadia Realty Trust has a 12 month low of $12.37 and a 12 month high of $17.90. The stock has a fifty day moving average price of $16.75 and a 200-day moving average price of $16.25. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 216.25, a PEG ratio of 11.75 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The firm had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the previous year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.21%. The ex-dividend date was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio is currently 900.00%.

Wall Street Analyst Weigh In

AKR has been the topic of a number of recent research reports. Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. Truist Financial cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.50.

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.