Nan Fung Trinity HK Ltd. Acquires 145,800 Shares of 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 and Exchange Commission. The firm owned 295,200 shares of the real estate investment trust's stock after buying an additional 145,800 shares during the quarter. Nan Fung Trinity HK Ltd. owned 0.23% of Acadia Realty Trust worth $6,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its holdings in Acadia Realty Trust by 21.3% during the fourth quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust's stock worth $280,757,000 after acquiring an additional 2,041,986 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Acadia Realty Trust in the 1st quarter valued at $36,166,000. Balyasny Asset Management L.P. acquired a new position in Acadia Realty Trust in the 4th quarter worth $38,508,000. Vanguard Group Inc. grew its holdings in shares of Acadia Realty Trust by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock worth $437,230,000 after buying an additional 1,459,448 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in Acadia Realty Trust in the 4th quarter valued at approximately $33,107,000. 97.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AKR shares. Truist Financial upgraded shares of 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. Wall Street Zen cut shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday.

Acadia Realty Trust Stock Performance

NYSE:AKR traded down $0.21 during mid-day trading on Friday, hitting $18.51. 2,758,336 shares of the stock were exchanged, compared to its average volume of 1,451,687. The firm's 50-day simple moving average is $18.92 and its 200 day simple moving average is $20.44. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 115.69, a price-to-earnings-growth ratio of 2.94 and a beta of 1.41. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $26.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 1.05.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The business 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. As a group, equities analysts anticipate 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 was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, June 30th. Acadia Realty Trust's dividend payout ratio is 500.00%.

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.