Alliancebernstein L.P. Buys 649,459 Shares of Acadia Realty Trust $AKR

Key Points

• Alliancebernstein L.P. increased its stake in Acadia Realty Trust by 26.8%, owning approximately 3,076,073 shares, valued at $64.44 million after acquiring an additional 649,459 shares during Q1.
• Acadia Realty Trust recently reported Q2 EPS of $0.32, slightly missing analyst estimates of $0.33, but showed a 15.3% revenue increase year-over-year.
• The company will issue a quarterly dividend of $0.20 per share on October 15th, representing a dividend yield of 4.0% with a payout ratio of 500%.

Alliancebernstein L.P. raised its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 26.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,076,073 shares of the real estate investment trust's stock after buying an additional 649,459 shares during the quarter. Alliancebernstein L.P. owned 2.35% of Acadia Realty Trust worth $64,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKR. GF Fund Management CO. LTD. acquired a new position in shares of Acadia Realty Trust during the 4th quarter worth about $46,000. Sandia Investment Management LP acquired a new position in Acadia Realty Trust during the fourth quarter valued at approximately $121,000. Cetera Investment Advisers bought a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $257,000. Jefferies Financial Group Inc. bought a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $295,000. Finally, EntryPoint Capital LLC acquired a new stake in Acadia Realty Trust in the first quarter worth $318,000. Institutional investors own 97.65% of the company's stock.

Analysts Set New Price Targets

AKR has been the subject of several research analyst reports. LADENBURG THALM/SH SH assumed coverage on shares of Acadia Realty Trust in a report on Tuesday. They issued a "neutral" rating and a $21.00 price target for the company. Citigroup upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $23.00 in a report on Friday. Finally, Wall Street Zen lowered Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Acadia Realty Trust Stock Up 2.0%

Shares of AKR traded up $0.40 during midday trading on Friday, hitting $20.17. The stock had a trading volume of 2,141,544 shares, compared to its average volume of 1,301,148. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 126.07, a price-to-earnings-growth ratio of 3.96 and a beta of 1.48. The company has a 50 day simple moving average of $19.13 and a two-hundred day simple moving average of $19.67. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $26.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick 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 firm had revenue of $98.30 million for the quarter, compared to the consensus estimate of $81.89 million. Acadia Realty Trust had a return on equity of 0.79% and a net margin of 5.31%.The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. On average, analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Acadia Realty Trust's dividend payout ratio (DPR) is 500.00%.

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.