Bank of New York Mellon Corp Has $25.72 Million Holdings in Acadia Realty Trust (NYSE:AKR)

Bank of New York Mellon Corp raised its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,227,613 shares of the real estate investment trust's stock after acquiring an additional 116,855 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Acadia Realty Trust worth $25,718,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AKR. GF Fund Management CO. LTD. bought a new position in Acadia Realty Trust in the fourth quarter worth $46,000. Sterling Capital Management LLC boosted its stake 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 buying an additional 3,344 shares during the last quarter. Sandia Investment Management LP bought a new position in Acadia Realty Trust during the fourth quarter valued at approximately $121,000. Xponance Inc. bought a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $203,000. Finally, Walleye Capital LLC purchased a new stake in shares of Acadia Realty Trust in the fourth quarter worth approximately $224,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Wall Street Analysts Forecast Growth

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 Stock Down 1.3%

NYSE AKR traded down $0.24 during trading hours on Friday, hitting $18.56. The company had a trading volume of 1,746,238 shares, compared to its average volume of 1,177,150. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.97. The firm's 50 day moving average is $19.12 and its 200 day moving average is $20.71. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 116.00, a P/E/G ratio of 2.91 and a beta of 1.36. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $26.29.

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 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. Acadia Realty Trust had a net margin of 5.36% and a return on equity of 0.81%. The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. Sell-side analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.31%. Acadia Realty Trust's dividend payout ratio is presently 500.00%.

About Acadia Realty Trust

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.