Victory Capital Management Inc. Increases Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Key Points

• Victory Capital Management Inc. increased its stake in Acadia Realty Trust by 44.0%, resulting in ownership of 237,364 shares valued at approximately $4.973 million.
• Acadia Realty Trust reported a quarterly earnings per share of $0.34, exceeding analysts' estimates of $0.33, alongside a revenue of $104.39 million which was significantly above expectations.
• The company declared a quarterly dividend of $0.20 per share, reflecting an annualized dividend yield of 4.27% and a notable dividend payout ratio of 500.00%.

Victory Capital Management Inc. grew its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 44.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,364 shares of the real estate investment trust's stock after buying an additional 72,538 shares during the quarter. Victory Capital Management Inc. owned 0.20% of Acadia Realty Trust worth $4,973,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in shares of Acadia Realty Trust during the fourth quarter valued at approximately $46,000. Sterling Capital Management LLC grew its holdings 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 worth $89,000 after purchasing an additional 3,344 shares during the last quarter. Sandia Investment Management LP purchased a new stake in shares of Acadia Realty Trust during the fourth quarter worth about $121,000. Xponance Inc. acquired a new position in Acadia Realty Trust during the 4th quarter valued at approximately $203,000. Finally, Walleye Capital LLC acquired a new stake in Acadia Realty Trust during the 4th quarter worth about $224,000. Institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Price Performance

Shares of AKR traded down $0.49 during mid-day trading on Wednesday, hitting $18.64. 3,687,749 shares of the company were exchanged, 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. Acadia Realty Trust has a 1-year low of $16.98 and a 1-year high of $26.29. The company has a 50 day moving average of $18.94 and a 200-day moving average of $20.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 0.97.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share 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 0.81%. The firm had revenue of $98.30 million during the quarter, compared to analysts' expectations of $81.89 million. During the same quarter last year, the business earned $0.31 EPS. The business's revenue was up 15.3% compared to the same quarter last year. Analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given 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 was Monday, June 30th. Acadia Realty Trust's dividend payout ratio (DPR) is 500.00%.

Wall Street Analyst Weigh In

Separately, Truist Financial upgraded 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.

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.