Easterly Investment Partners LLC Boosts Stock Position in Acadia Realty Trust (NYSE:AKR)

Easterly Investment Partners LLC grew its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 27.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521,453 shares of the real estate investment trust's stock after buying an additional 112,751 shares during the quarter. Easterly Investment Partners LLC owned 0.44% of Acadia Realty Trust worth $10,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AKR. Victory Capital Management Inc. increased its stake in shares of Acadia Realty Trust by 44.0% during the first quarter. Victory Capital Management Inc. now owns 237,364 shares of the real estate investment trust's stock valued at $4,973,000 after purchasing an additional 72,538 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Acadia Realty Trust by 13.8% in the first quarter. New York State Common Retirement Fund now owns 37,147 shares of the real estate investment trust's stock worth $778,000 after buying an additional 4,500 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Acadia Realty Trust by 12.3% in the first quarter. Arizona State Retirement System now owns 34,321 shares of the real estate investment trust's stock worth $719,000 after buying an additional 3,753 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Acadia Realty Trust by 10.5% during the first quarter. Bank of New York Mellon Corp now owns 1,227,613 shares of the real estate investment trust's stock valued at $25,718,000 after purchasing an additional 116,855 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Acadia Realty Trust by 2.6% during the first quarter. Principal Financial Group Inc. now owns 670,957 shares of the real estate investment trust's stock valued at $14,057,000 after purchasing an additional 16,957 shares during the last quarter. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock traded down $0.24 on Friday, hitting $18.56. 1,746,238 shares of the company traded hands, compared to its average volume of 1,177,150. The business has a 50-day simple moving average of $19.12 and a 200 day simple moving average of $20.69. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $26.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $2.43 billion, a P/E ratio of 116.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.36.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Acadia Realty Trust had a net margin of 5.36% and a return on equity of 0.81%. The firm had revenue of $104.39 million during the quarter, compared to analyst estimates of $86.99 million. During the same period last year, the firm posted $0.33 earnings per share. Acadia Realty Trust's revenue for the quarter was up 14.2% compared to the same quarter last year. Research analysts expect that Acadia Realty Trust will post 1.34 earnings per share 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. Shareholders of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.31%. Acadia Realty Trust's payout ratio is 500.00%.

Wall Street Analyst Weigh In

Separately, Truist Financial upgraded shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Thursday, April 10th.

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.