Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in Acadia Realty Trust $AKR

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 19,603 shares of Acadia Realty Trust, valued at approximately $411,000, indicating growing institutional interest in the REIT.
• Acadia Realty Trust reported $0.32 EPS for the last quarter, missing analysts' estimates, while revenue of $98.30 million surpassed expectations of $81.89 million.
• The company declared a $0.20 quarterly dividend, set to be paid on October 15th, which represents an annualized yield of 4.1%.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Acadia Realty Trust (NYSE:AKR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,603 shares of the real estate investment trust's stock, valued at approximately $411,000.

Other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $46,000. Sterling Capital Management LLC increased its holdings in shares of Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 3,344 shares in the last quarter. Sandia Investment Management LP acquired a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $121,000. Walleye Capital LLC acquired a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $224,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Acadia Realty Trust in the fourth quarter valued at approximately $257,000. Institutional investors own 97.65% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Acadia Realty Trust presently has an average rating of "Buy" and an average target price of $25.00.

Acadia Realty Trust Trading Up 3.1%

AKR traded up $0.5950 during trading on Friday, reaching $20.0350. 1,543,659 shares of the company's stock were exchanged, compared to its average volume of 1,539,471. The company's fifty day moving average price is $18.82 and its 200-day moving average price is $20.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.05. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $26.29. The firm has a market capitalization of $2.62 billion, a PE ratio of 125.23, a P/E/G ratio of 3.87 and a beta of 1.41.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The firm had revenue of $98.30 million during the quarter, compared to analyst estimates of $81.89 million. During the same period last year, the firm earned $0.31 EPS. Acadia Realty Trust's quarterly revenue was up 15.3% on a year-over-year basis. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. As a group, equities analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. Acadia Realty Trust's payout ratio is 500.00%.

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.