Heitman Real Estate Securities LLC Trims Holdings in Acadia Realty Trust (NYSE:AKR)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of AKR. FMR LLC boosted its position in Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock worth $224,910,000 after purchasing an additional 7,124,403 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Acadia Realty Trust in the second quarter worth about $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Acadia Realty Trust by 381.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock worth $15,422,000 after acquiring an additional 520,319 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Acadia Realty Trust during the second quarter valued at $5,090,000. Finally, Renaissance Technologies LLC grew its position in Acadia Realty Trust by 173.8% in the 2nd quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock valued at $4,745,000 after acquiring an additional 168,100 shares during the last quarter. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Down 0.9 %

Acadia Realty Trust stock opened at $25.63 on Tuesday. The stock has a market cap of $3.07 billion, a PE ratio of 284.78, a P/E/G ratio of 6.53 and a beta of 1.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day moving average is $24.28 and its two-hundred day moving average is $21.32. Acadia Realty Trust has a 1-year low of $15.48 and a 1-year high of $26.29.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $70.88 million. During the same period last year, the firm earned $0.27 earnings per share. Acadia Realty Trust’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued 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 payout ratio is 844.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday. One 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.com, the stock has an average rating of “Hold” and an average target price 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.