JPMorgan Chase & Co. Cuts Position in Acadia Realty Trust $AKR

JPMorgan Chase & Co. lowered its position in shares of Acadia Realty Trust (NYSE:AKR) by 7.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 780,445 shares of the real estate investment trust’s stock after selling 64,105 shares during the quarter. JPMorgan Chase & Co. owned about 0.60% of Acadia Realty Trust worth $15,726,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new stake in Acadia Realty Trust during the third quarter worth approximately $64,526,000. Engineers Gate Manager LP purchased a new stake in Acadia Realty Trust during the 2nd quarter worth $29,771,000. State Street Corp increased its holdings in Acadia Realty Trust by 9.3% in the 2nd quarter. State Street Corp now owns 7,450,026 shares of the real estate investment trust’s stock valued at $139,802,000 after purchasing an additional 632,722 shares in the last quarter. Hudson Bay Capital Management LP raised its position in Acadia Realty Trust by 25.4% in the second quarter. Hudson Bay Capital Management LP now owns 2,325,956 shares of the real estate investment trust’s stock valued at $43,193,000 after purchasing an additional 471,103 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Acadia Realty Trust by 34.6% during the second quarter. Qube Research & Technologies Ltd now owns 1,424,302 shares of the real estate investment trust’s stock worth $26,449,000 after purchasing an additional 366,113 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Up 0.1%

AKR opened at $21.02 on Wednesday. Acadia Realty Trust has a 12-month low of $16.98 and a 12-month high of $23.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock 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 firm’s fifty day moving average price is $20.61 and its 200 day moving average price is $20.14.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $92.19 million. During the same period in the previous year, the firm posted $0.32 EPS. Acadia Realty Trust’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts expect that Acadia Realty Trust will post 1.34 EPS 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. Investors of record on Tuesday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio is currently 888.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Truist Financial decreased their price target on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, January 21st. Finally, Citigroup boosted 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. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.33.

Acadia Realty Trust Profile

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.