Avalon Trust Co Purchases Shares of 34,000 Acadia Realty Trust (NYSE:AKR)

Key Points

• Avalon Trust Co acquired 34,000 shares of Acadia Realty Trust, valued at approximately $712,000, marking a notable new investment in the stock during Q1.
• The company recently reported earnings of $0.32 per share, slightly missing analysts' expectations, but with revenue of $98.30 million exceeding estimates.
• Acadia Realty Trust declared a quarterly dividend of $0.20 per share, resulting in a 4.3% dividend yield, although its dividend payout ratio is currently 500.00%.

Avalon Trust Co bought a new position in Acadia Realty Trust (NYSE:AKR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 34,000 shares of the real estate investment trust's stock, valued at approximately $712,000.

Several other institutional investors have also recently made changes to their positions in AKR. GF Fund Management CO. LTD. purchased a new position in shares of Acadia Realty Trust in the 4th quarter worth about $46,000. Sterling Capital Management LLC lifted its holdings in Acadia Realty Trust by 960.9% during 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 purchasing an additional 3,344 shares during the last quarter. Sandia Investment Management LP purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $121,000. Walleye Capital LLC purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $224,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $247,000. Institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Price Performance

Shares of AKR traded up $0.27 during midday trading on Monday, hitting $18.77. 1,575,884 shares of the company traded hands, compared to its average volume of 1,251,860. The stock has a 50-day moving average of $18.92 and a 200-day moving average of $20.41. Acadia Realty Trust has a one year low of $16.98 and a one year high of $26.29. The firm has a market cap of $2.46 billion, a P/E ratio of 117.31, a PEG ratio of 2.91 and a beta of 1.41. 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 announced its quarterly 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). The company had revenue of $98.30 million for 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 company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, June 30th. Acadia Realty Trust's dividend payout ratio is 500.00%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AKR shares. Truist Financial raised shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a report on Thursday, April 10th. Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday.

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.