Fisher Asset Management LLC Decreases Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Fisher Asset Management LLC lowered its stake in shares of Acadia Realty Trust (NYSE:AKR) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 761,817 shares of the real estate investment trust’s stock after selling 13,399 shares during the quarter. Fisher Asset Management LLC owned about 0.80% of Acadia Realty Trust worth $12,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al purchased a new position in shares of Acadia Realty Trust in the 3rd quarter worth approximately $2,984,000. GSA Capital Partners LLP purchased a new position in Acadia Realty Trust in the third quarter worth $2,297,000. Vanguard Group Inc. increased its position in shares of Acadia Realty Trust by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock worth $223,316,000 after purchasing an additional 118,807 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Acadia Realty Trust by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,627,993 shares of the real estate investment trust’s stock valued at $23,362,000 after purchasing an additional 67,141 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Acadia Realty Trust in the 3rd quarter worth $956,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Down 2.2 %

Acadia Realty Trust stock opened at $16.92 on Monday. The business’s 50-day simple moving average is $16.78 and its two-hundred day simple moving average is $16.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $1.75 billion, a PE ratio of 211.50, a PEG ratio of 11.30 and a beta of 1.41. Acadia Realty Trust has a fifty-two week low of $12.37 and a fifty-two week high of $17.90.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same quarter in the prior year, the company earned $0.40 EPS. Acadia Realty Trust’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 4.26%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Analyst Upgrades and Downgrades

AKR has been the topic of several recent analyst reports. Truist Financial lowered Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Tuesday, January 16th. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $20.00 in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

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.