New Age Alpha Advisors LLC Makes New $374,000 Investment in Acadia Realty Trust (NYSE:AKR)

New Age Alpha Advisors LLC acquired a new stake in Acadia Realty Trust (NYSE:AKR) in the 4th quarter, HoldingsChannel reports. The fund acquired 15,469 shares of the real estate investment trust’s stock, valued at approximately $374,000.

A number of other hedge funds have also recently modified their holdings of AKR. Norges Bank acquired a new position in Acadia Realty Trust in the fourth quarter valued at approximately $8,439,000. Easterly Investment Partners LLC lifted its stake in shares of Acadia Realty Trust by 54.2% in the 4th quarter. Easterly Investment Partners LLC now owns 408,702 shares of the real estate investment trust’s stock valued at $9,874,000 after purchasing an additional 143,606 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Acadia Realty Trust by 14.3% during the fourth quarter. UniSuper Management Pty Ltd now owns 32,700 shares of the real estate investment trust’s stock worth $790,000 after buying an additional 4,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Acadia Realty Trust by 18.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 78,722 shares of the real estate investment trust’s stock valued at $1,891,000 after buying an additional 12,456 shares during the period. Finally, Corebridge Financial Inc. increased its holdings in Acadia Realty Trust by 5.4% in the fourth quarter. Corebridge Financial Inc. now owns 62,475 shares of the real estate investment trust’s stock valued at $1,509,000 after buying an additional 3,182 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their target price on Acadia Realty Trust from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.00.

Insider Transactions at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Acadia Realty Trust Price Performance

Shares of NYSE AKR opened at $20.71 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $22.57 and a 200 day moving average of $23.55. The firm has a market cap of $2.48 billion, a PE ratio of 115.06, a PEG ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a one year low of $16.14 and a one year high of $26.29.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. As a group, research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Monday, March 31st. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio (DPR) is 444.44%.

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.