Acadia Realty Trust $AKR Stock Holdings Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 7.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 780,445 shares of the real estate investment trust’s stock after selling 64,105 shares during the quarter. JPMorgan Chase & Co.’s holdings in Acadia Realty Trust were worth $15,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its stake in Acadia Realty Trust by 5.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 303,933 shares of the real estate investment trust’s stock valued at $6,124,000 after acquiring an additional 15,288 shares during the period. Aberdeen Group plc boosted its position in Acadia Realty Trust by 13.8% during the 3rd quarter. Aberdeen Group plc now owns 44,592 shares of the real estate investment trust’s stock valued at $900,000 after purchasing an additional 5,414 shares during the period. Metis Global Partners LLC grew its stake in Acadia Realty Trust by 36.5% during the 3rd quarter. Metis Global Partners LLC now owns 29,531 shares of the real estate investment trust’s stock worth $595,000 after buying an additional 7,892 shares during the last quarter. Public Sector Pension Investment Board increased its position in Acadia Realty Trust by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 511,079 shares of the real estate investment trust’s stock worth $10,298,000 after buying an additional 64,644 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in Acadia Realty Trust by 11.9% in the third quarter. Illinois Municipal Retirement Fund now owns 70,820 shares of the real estate investment trust’s stock valued at $1,427,000 after buying an additional 7,521 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AKR. Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Citigroup upped their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Truist Financial cut their price target on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Finally, Wall Street Zen downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Acadia Realty Trust presently has an average rating of “Hold” and a consensus target price of $22.33.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $21.02 on Wednesday. The firm has a market capitalization of $2.75 billion, a PE ratio of 233.58, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $20.61 and a 200 day moving average price of $20.14. Acadia Realty Trust has a 52-week low of $16.98 and a 52-week high of $23.15.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The company had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. During the same period in the prior year, the company posted $0.32 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.34 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, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. Acadia Realty Trust’s dividend payout ratio (DPR) is 888.89%.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.