Legal & General Group Plc Reduces Holdings in Acadia Realty Trust $AKR

Legal & General Group Plc cut its stake in Acadia Realty Trust (NYSE:AKR) by 1.8% in the second quarter, Holdings Channel.com reports. The fund owned 1,690,225 shares of the real estate investment trust’s stock after selling 31,355 shares during the quarter. Legal & General Group Plc’s holdings in Acadia Realty Trust were worth $31,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Entropy Technologies LP increased its position in shares of Acadia Realty Trust by 76.6% during the second quarter. Entropy Technologies LP now owns 71,757 shares of the real estate investment trust’s stock worth $1,333,000 after purchasing an additional 31,134 shares in the last quarter. Magnetar Financial LLC grew its stake in Acadia Realty Trust by 6.1% during the 2nd quarter. Magnetar Financial LLC now owns 29,075 shares of the real estate investment trust’s stock worth $540,000 after buying an additional 1,678 shares during the last quarter. Greenland Capital Management LP purchased a new position in Acadia Realty Trust during the 2nd quarter worth approximately $468,000. Nomura Asset Management Co. Ltd. increased its position in Acadia Realty Trust by 11.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 183,700 shares of the real estate investment trust’s stock worth $3,411,000 after buying an additional 19,600 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Acadia Realty Trust by 16.8% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 2,015,648 shares of the real estate investment trust’s stock valued at $37,431,000 after buying an additional 289,359 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $20.56 on Thursday. The firm’s fifty day moving average price is $19.83 and its 200 day moving average price is $19.44. Acadia Realty Trust has a 1-year low of $16.98 and a 1-year high of $26.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.06 and a quick ratio of 1.05. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 171.35, a price-to-earnings-growth ratio of 2.78 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. Acadia Realty Trust had a net margin of 4.21% and a return on equity of 0.63%. The company had revenue of $101.01 million during the quarter, compared to the consensus estimate of $92.78 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Acadia Realty Trust’s quarterly revenue was up 15.1% on a year-over-year basis. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.340 EPS. On average, sell-side analysts expect that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.20 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 666.67%.

Analyst Ratings Changes

AKR has been the topic of a number of research reports. Citigroup upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $23.00 in a research report on Friday, September 12th. Zacks Research cut shares of Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 2nd. LADENBURG THALM/SH SH started coverage on shares of Acadia Realty Trust in a research report on Tuesday, September 9th. They set a “neutral” rating and a $21.00 price objective on the stock. Wall Street Zen upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.33.

About Acadia Realty Trust

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.