Fisher Asset Management LLC Trims Holdings in Acadia Realty Trust $AKR

Fisher Asset Management LLC lessened its holdings in Acadia Realty Trust (NYSE:AKR) by 48.9% during the second quarter, Holdings Channel.com reports. The firm owned 363,011 shares of the real estate investment trust’s stock after selling 347,000 shares during the quarter. Fisher Asset Management LLC’s holdings in Acadia Realty Trust were worth $6,741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hantz Financial Services Inc. increased its position in shares of Acadia Realty Trust by 189.5% during the second quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 902 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Acadia Realty Trust by 57.7% during the 2nd quarter. GAMMA Investing LLC now owns 5,120 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 1,873 shares during the period. PNC Financial Services Group Inc. increased its holdings in Acadia Realty Trust by 20.6% during the second quarter. PNC Financial Services Group Inc. now owns 6,526 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 1,114 shares during the last quarter. M&G PLC bought a new position in Acadia Realty Trust in the second quarter worth approximately $195,000. Finally, Corton Capital Inc. purchased a new position in shares of Acadia Realty Trust during the 2nd quarter worth $204,000. 97.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AKR. Citigroup upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $23.00 in a research note on Friday, September 12th. Wall Street Zen upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research downgraded Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, October 8th. Finally, Truist Financial reduced their target price on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

Acadia Realty Trust Price Performance

NYSE:AKR opened at $19.72 on Friday. The business’s 50-day simple moving average is $19.82 and its two-hundred day simple moving average is $19.44. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $25.83. The stock has a market cap of $2.58 billion, a PE ratio of 164.37, a P/E/G ratio of 3.19 and a beta of 1.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.70.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. Acadia Realty Trust had a return on equity of 0.63% and a net margin of 4.21%.The firm had revenue of $101.01 million during the quarter, compared to analysts’ expectations of $92.78 million. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.340 EPS. As a group, analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Acadia Realty Trust’s payout ratio is 666.67%.

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.