Edgestream Partners L.P. Lowers Position in Acadia Realty Trust (NYSE:AKR)

Edgestream Partners L.P. lowered its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,523 shares of the real estate investment trust's stock after selling 21,987 shares during the period. Edgestream Partners L.P. owned about 0.10% of Acadia Realty Trust worth $2,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its position in Acadia Realty Trust by 13.8% during 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 acquiring an additional 4,500 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Acadia Realty Trust by 12.3% during 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 grew 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 worth $25,718,000 after buying an additional 116,855 shares in the last quarter. Principal Financial Group Inc. grew 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 worth $14,057,000 after buying an additional 16,957 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Acadia Realty Trust during the first quarter worth about $364,000. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Trading Down 1.3%

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

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 EPS for the quarter, topping 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 business had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. During the same period in the previous year, the company posted $0.33 earnings per share. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend 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 (DPR) is 500.00%.

Analysts Set New Price Targets

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 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.