Easterly Investment Partners LLC Boosts Stake in Acadia Realty Trust $AKR

Key Points

• Easterly Investment Partners LLC increased its stake in Acadia Realty Trust by 13.3%, owning nearly 590,795 shares worth approximately $10.97 million as of the end of the second quarter.
• Acadia Realty Trust recently reported quarterly earnings of $0.32 per share, which missed analyst expectations of $0.33, but the company's revenue was up 15.3% year-over-year.
• Analysts have given mixed ratings on AKR, with Citigroup upgrading it from "neutral" to "buy" and raising the price target to $23.00, while Zacks Research downgraded it to a "strong sell."

Easterly Investment Partners LLC lifted its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 590,795 shares of the real estate investment trust's stock after purchasing an additional 69,342 shares during the period. Easterly Investment Partners LLC owned 0.45% of Acadia Realty Trust worth $10,971,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Acadia Realty Trust by 57.7% in the 2nd quarter. GAMMA Investing LLC now owns 5,120 shares of the real estate investment trust's stock worth $95,000 after buying an additional 1,873 shares during the period. EntryPoint Capital LLC bought a new position in Acadia Realty Trust in the 1st quarter worth approximately $318,000. Teacher Retirement System of Texas bought a new position in Acadia Realty Trust in the 1st quarter worth approximately $364,000. Inspire Investing LLC boosted its holdings in Acadia Realty Trust by 3.4% in the 1st quarter. Inspire Investing LLC now owns 19,254 shares of the real estate investment trust's stock worth $403,000 after buying an additional 640 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Acadia Realty Trust in the 1st quarter worth approximately $411,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $19.33 on Friday. The stock has a market cap of $2.53 billion, a PE ratio of 120.82, a PEG ratio of 2.86 and a beta of 1.47. The company's fifty day moving average is $19.71 and its 200 day moving average is $19.34. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $26.29. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released 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). Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The firm had revenue of $98.30 million during the quarter, compared to analysts' expectations of $81.89 million. During the same quarter in the previous year, the firm posted $0.31 EPS. Acadia Realty Trust's revenue was up 15.3% compared to the same quarter last year. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.20 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. Acadia Realty Trust's payout ratio is presently 500.00%.

Analysts Set New Price Targets

Several research analysts have commented on AKR shares. Citigroup raised shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price target for the company from $20.00 to $23.00 in a report on Friday, September 12th. LADENBURG THALM/SH SH started coverage on shares of Acadia Realty Trust in a report on Tuesday, September 9th. They issued a "neutral" rating and a $21.00 price target for the company. Zacks Research downgraded shares of Acadia Realty Trust from a "hold" rating to a "strong sell" rating in a report on Thursday, October 2nd. Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Sunday, October 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Acadia Realty Trust in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.33.

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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