Acadia Realty Trust (NYSE:AKR) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 44.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,364 shares of the real estate investment trust's stock after acquiring an additional 72,538 shares during the period. Victory Capital Management Inc. owned approximately 0.20% of Acadia Realty Trust worth $4,973,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Acadia Realty Trust by 2,163.7% during the first quarter. GAMMA Investing LLC now owns 68,025 shares of the real estate investment trust's stock worth $1,425,000 after acquiring an additional 65,020 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Acadia Realty Trust during the fourth quarter worth about $552,000. Norges Bank purchased a new position in Acadia Realty Trust in the 4th quarter worth about $8,439,000. Corebridge Financial Inc. increased its stake in Acadia Realty Trust by 5.4% in the 4th quarter. Corebridge Financial Inc. now owns 62,475 shares of the real estate investment trust's stock worth $1,509,000 after purchasing an additional 3,182 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Acadia Realty Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 670,957 shares of the real estate investment trust's stock worth $14,057,000 after purchasing an additional 16,957 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Trading Down 1.0%

Shares of AKR opened at $18.76 on Friday. The business's 50-day moving average price is $18.99 and its 200 day moving average price is $20.55. The stock has a market capitalization of $2.46 billion, a P/E ratio of 117.22, a P/E/G ratio of 2.95 and a beta of 1.36. Acadia Realty Trust has a 1-year low of $16.98 and a 1-year high of $26.29. 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 (NYSE:AKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. Acadia Realty Trust had a return on equity of 0.81% and a net margin of 5.36%. Acadia Realty Trust's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 4.27%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 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 price target on the stock in a research note on Thursday, April 10th.

Acadia Realty Trust 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.

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