APG Asset Management US Inc. Cuts Holdings in Acadia Realty Trust $AKR

APG Asset Management US Inc. reduced its position in Acadia Realty Trust (NYSE:AKR) by 20.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 838,642 shares of the real estate investment trust’s stock after selling 214,510 shares during the period. APG Asset Management US Inc.’s holdings in Acadia Realty Trust were worth $17,083,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in shares of Acadia Realty Trust by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 511,079 shares of the real estate investment trust’s stock valued at $10,298,000 after purchasing an additional 64,644 shares in the last quarter. Vanguard Group Inc. lifted its position in Acadia Realty Trust by 0.6% during the third quarter. Vanguard Group Inc. now owns 19,939,618 shares of the real estate investment trust’s stock valued at $401,783,000 after purchasing an additional 114,473 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Acadia Realty Trust by 17.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 95,595 shares of the real estate investment trust’s stock worth $1,775,000 after buying an additional 13,873 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Acadia Realty Trust by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,586 shares of the real estate investment trust’s stock worth $25,099,000 after buying an additional 123,973 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Acadia Realty Trust during the third quarter valued at approximately $64,526,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AKR shares. Wall Street Zen lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, January 21st. Truist Financial lowered their target price on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Finally, Citigroup boosted their price target on Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.33.

Acadia Realty Trust Price Performance

Shares of AKR opened at $20.95 on Friday. The company has a 50 day moving average of $20.59 and a two-hundred day moving average of $20.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $23.45. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 232.81, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The business had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.