Heitman Real Estate Securities LLC Cuts Position in Acadia Realty Trust (NYSE:AKR)

Heitman Real Estate Securities LLC cut its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 20.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 54,040 shares of the real estate investment trust’s stock after selling 14,068 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in Acadia Realty Trust were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKR. GAMMA Investing LLC boosted its stake in Acadia Realty Trust by 32.7% in 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. USA Financial Formulas purchased a new stake in Acadia Realty Trust in the third quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Acadia Realty Trust by 35.0% during the 3rd 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 buying an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new stake in Acadia Realty Trust in the 2nd quarter valued at about $103,000. Finally, Algert Global LLC purchased a new stake in Acadia Realty Trust during the second quarter valued at about $186,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $25.63 on Tuesday. The business has a 50-day simple moving average of $24.28 and a 200 day simple moving average of $21.32. Acadia Realty Trust has a 52 week low of $15.48 and a 52 week high of $26.29. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 284.78, a PEG ratio of 6.53 and a beta of 1.47. 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 (NYSE:AKR) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.97%. Acadia Realty Trust’s dividend payout ratio (DPR) is 844.44%.

Analysts Set New Price Targets

A number of brokerages recently commented on AKR. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Truist Financial raised their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.60.

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.