Allianz Asset Management GmbH Invests $1.49 Million in Acadia Realty Trust (NYSE:AKR)

Allianz Asset Management GmbH purchased a new position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 71,049 shares of the real estate investment trust's stock, valued at approximately $1,488,000. Allianz Asset Management GmbH owned about 0.05% of Acadia Realty Trust as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. acquired a new position in shares of Acadia Realty Trust in the fourth quarter valued at $390,000. KLP Kapitalforvaltning AS bought a new stake in shares of Acadia Realty Trust during the fourth quarter worth $552,000. Vanguard Group Inc. boosted its holdings in Acadia Realty Trust by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock valued at $437,230,000 after acquiring an additional 1,459,448 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Acadia Realty Trust by 5.4% in the fourth quarter. Corebridge Financial Inc. now owns 62,475 shares of the real estate investment trust's stock valued at $1,509,000 after acquiring an additional 3,182 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Acadia Realty Trust by 18.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 78,722 shares of the real estate investment trust's stock valued at $1,891,000 after acquiring an additional 12,456 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded down $0.21 during midday trading on Friday, hitting $18.51. 2,758,336 shares of the company's stock were exchanged, compared to its average volume of 1,249,626. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The company's 50 day moving average price is $18.93 and its 200 day moving average price is $20.46. The firm has a market capitalization of $2.42 billion, a PE ratio of 115.69, a price-to-earnings-growth ratio of 2.92 and a beta of 1.36.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released 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). The firm had revenue of $98.30 million during the quarter, compared to the consensus estimate of $81.89 million. Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. As a group, analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. Acadia Realty Trust's payout ratio is 500.00%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a research note on Thursday, April 10th.

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.