Acadia Realty Trust $AKR Stock Position Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 80.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,453 shares of the real estate investment trust’s stock after acquiring an additional 32,827 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Acadia Realty Trust were worth $1,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its position in shares of Acadia Realty Trust by 189.5% during the 2nd 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 period. Osaic Holdings Inc. grew its stake in Acadia Realty Trust by 32.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 547 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Acadia Realty Trust in the second quarter worth $47,000. EverSource Wealth Advisors LLC lifted its stake in Acadia Realty Trust by 342.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 2,309 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Acadia Realty Trust by 10.8% during the second quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 543 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Up 0.9%

AKR stock opened at $20.95 on Monday. The firm’s 50-day moving average is $20.59 and its two-hundred day moving average is $20.11. The company has a market capitalization 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 1.09. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $23.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

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

Acadia Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Acadia Realty Trust Company Profile

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.