Jennison Associates LLC Takes Position in Acadia Realty Trust (AKR)
Jennison Associates LLC bought a new stake in shares of Acadia Realty Trust (NYSE:AKR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 46,448 shares of the real estate investment trust’s stock, valued at approximately $1,329,000. Jennison Associates LLC owned approximately 0.06% of Acadia Realty Trust at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westpac Banking Corp raised its stake in shares of Acadia Realty Trust by 36.1% in the 2nd quarter. Westpac Banking Corp now owns 453,919 shares of the real estate investment trust’s stock worth $12,619,000 after buying an additional 120,472 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Acadia Realty Trust by 7.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 129,661 shares of the real estate investment trust’s stock worth $3,618,000 after acquiring an additional 9,250 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Acadia Realty Trust by 86.8% in the 2nd quarter. Lazard Asset Management LLC now owns 20,446 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 9,500 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Acadia Realty Trust by 14.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 52,862 shares of the real estate investment trust’s stock worth $1,470,000 after acquiring an additional 6,680 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Acadia Realty Trust by 13.6% in the 2nd quarter. Legal & General Group Plc now owns 668,435 shares of the real estate investment trust’s stock worth $18,585,000 after acquiring an additional 80,206 shares during the last quarter.
A number of research analysts have recently weighed in on the company. KeyCorp downgraded Acadia Realty Trust to an “overweight” rating in a report on Monday. Zacks Investment Research downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Finally, Boenning Scattergood restated a “buy” rating and issued a $35.00 target price on shares of Acadia Realty Trust in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Acadia Realty Trust presently has a consensus rating of “Buy” and a consensus price target of $33.50.
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Acadia Realty Trust (NYSE AKR) opened at $29.14 on Monday. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $34.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market capitalization of $2,439.19, a PE ratio of 19.05, a P/E/G ratio of 1.95 and a beta of 0.62.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Acadia Realty Trust had a return on equity of 2.77% and a net margin of 25.34%. The business had revenue of $51.70 million during the quarter, compared to analysts’ expectations of $55.94 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. analysts forecast that Acadia Realty Trust will post 1.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.71%. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, December 28th. Acadia Realty Trust’s payout ratio is currently 146.48%.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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