Franklin Resources Inc. Reduces Stake in Acadia Realty Trust $AKR

Franklin Resources Inc. lowered its position in Acadia Realty Trust (NYSE:AKR) by 69.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,609 shares of the real estate investment trust’s stock after selling 38,415 shares during the quarter. Franklin Resources Inc.’s holdings in Acadia Realty Trust were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Acadia Realty Trust Trading Up 1.4%

AKR stock opened at $19.89 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.06 and a quick ratio of 1.06. Acadia Realty Trust has a 1-year low of $16.98 and a 1-year high of $25.83. The business has a 50 day simple moving average of $19.79 and a two-hundred day simple moving average of $19.45. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 165.72, a PEG ratio of 3.16 and a beta of 1.12.

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

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Acadia Realty Trust’s dividend payout ratio is presently 666.67%.

Wall Street Analyst Weigh In

AKR has been the topic of several analyst reports. LADENBURG THALM/SH SH began coverage on shares of Acadia Realty Trust in a research note on Tuesday, September 9th. They set a “neutral” rating and a $21.00 price target on the stock. Truist Financial lowered their target price on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Wall Street Zen upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.00.

About Acadia Realty Trust

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.