Nan Fung Trinity HK Ltd. Raises Holdings in Acadia Realty Trust (NYSE:AKR)

Key Points

• Nan Fung Trinity HK Ltd. increased its stake in Acadia Realty Trust by 97.6%, owning a total of 295,200 shares valued at approximately $6.18 million after acquiring an additional 145,800 shares.
• Acadia Realty Trust reported a net profit margin of 5.36% with Q1 EPS of $0.34, surpassing analysts' expectations and demonstrating a 14.2% year-over-year revenue increase.
• Truist Financial upgraded Acadia Realty Trust's rating from "hold" to "buy" with a price target set at $23.00 in a recent research note.

Nan Fung Trinity HK Ltd. raised its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 97.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,200 shares of the real estate investment trust's stock after purchasing an additional 145,800 shares during the period. Nan Fung Trinity HK Ltd. owned 0.23% of Acadia Realty Trust worth $6,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in shares of Acadia Realty Trust in the 4th quarter valued at $46,000. Sterling Capital Management LLC boosted its stake in 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 acquiring an additional 3,344 shares in the last quarter. Sandia Investment Management LP purchased a new position in shares of Acadia Realty Trust during the fourth quarter worth about $121,000. Walleye Capital LLC acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth about $224,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Acadia Realty Trust in the 4th quarter valued at about $247,000. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Stock Performance

AKR stock traded down $0.49 on Wednesday, hitting $18.64. The company's stock had a trading volume of 3,687,749 shares, compared to its average volume of 1,302,538. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 116.51, a price-to-earnings-growth ratio of 3.00 and a beta of 1.36. The firm has a 50 day moving average of $18.94 and a two-hundred day moving average of $20.49. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.81%. The business had revenue of $98.30 million during the quarter, compared to analysts' expectations of $81.89 million. During the same period in the previous year, the company posted $0.31 earnings per share. Acadia Realty Trust's quarterly revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, June 30th. Acadia Realty Trust's payout ratio is currently 500.00%.

Analysts Set New Price Targets

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

Acadia Realty Trust Company Profile

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.