Barclays PLC Grows Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Barclays PLC boosted its position in Acadia Realty Trust (NYSE:AKR) by 11.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 776,869 shares of the real estate investment trust’s stock after purchasing an additional 81,853 shares during the period. Barclays PLC’s holdings in Acadia Realty Trust were worth $18,240,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in AKR. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust during the 3rd quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Acadia Realty Trust in the second quarter worth about $103,000. Algert Global LLC bought a new position in shares of Acadia Realty Trust in the second quarter worth about $186,000. Finally, Custom Index Systems LLC purchased a new position in shares of Acadia Realty Trust during the 3rd quarter valued at about $202,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Analysts Set New Price Targets

AKR has been the subject of a number of analyst reports. Truist Financial increased their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Acadia Realty Trust presently has an average rating of “Hold” and an average target price of $22.40.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $25.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. The business has a 50 day simple moving average of $24.73 and a two-hundred day simple moving average of $21.89. The stock has a market capitalization of $3.03 billion, a PE ratio of 281.67, a P/E/G ratio of 6.32 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. On average, research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Acadia Realty Trust Company 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.