Acadia Realty Trust (NYSE:AKR) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its position in shares of Acadia Realty Trust (NYSE:AKR) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,442 shares of the real estate investment trust’s stock after selling 3,600 shares during the period. Public Sector Pension Investment Board’s holdings in Acadia Realty Trust were worth $5,246,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after purchasing an additional 476 shares during the period. Texas Permanent School Fund Corp boosted its stake in Acadia Realty Trust by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock worth $1,614,000 after buying an additional 531 shares during the period. GAMMA Investing LLC increased its position in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 572 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Acadia Realty Trust by 2.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock valued at $559,000 after acquiring an additional 582 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Acadia Realty Trust by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 724 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $25.85 on Monday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 287.22, a price-to-earnings-growth ratio of 6.53 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 52 week low of $14.74 and a 52 week high of $26.29. The company has a fifty day simple moving average of $24.28 and a two-hundred day simple moving average of $21.30.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.25). The company had revenue of $87.70 million for 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%. Acadia Realty Trust’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 2.94%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Analysts Set New Price Targets

A number of analysts have issued reports on AKR shares. Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Finally, StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $21.60.

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.