Massachusetts Financial Services Co. MA Acquires 2,370,553 Shares of Acadia Realty Trust $AKR

Key Points

• Massachusetts Financial Services Co. MA increased its stake in Acadia Realty Trust by 74%, acquiring 2,370,553 shares to own 5,572,852 shares (about 4.25%) worth roughly $114.47 million at quarter-end.
• Acadia reported quarterly EPS of $0.04, missing estimates by $0.28, while revenue rose 12.3% to $104.77 million and beat expectations.
• The company declared a quarterly dividend of $0.20 (annualized $0.80) with a 3.9% yield, ex-dividend March 31 and payable April 15, despite a very high payout ratio of 888.89%.

Massachusetts Financial Services Co. MA increased its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 74.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,572,852 shares of the real estate investment trust's stock after acquiring an additional 2,370,553 shares during the period. Massachusetts Financial Services Co. MA owned about 4.25% of Acadia Realty Trust worth $114,466,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AKR. Osaic Holdings Inc. grew its holdings in shares of Acadia Realty Trust by 32.8% in the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 547 shares in the last quarter. Raymond James Financial Inc. bought a new position in Acadia Realty Trust during the second quarter valued at $47,000. Hantz Financial Services Inc. grew its holdings in Acadia Realty Trust by 90.3% during the third quarter. Hantz Financial Services Inc. now owns 2,622 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 1,244 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Acadia Realty Trust by 342.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 2,309 shares during the period. Finally, State of Wyoming grew its holdings in Acadia Realty Trust by 10.8% during the second quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 543 shares during the period. 97.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AKR shares. JPMorgan Chase & Co. increased their price objective on Acadia Realty Trust from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, March 20th. Citigroup increased their price objective on Acadia Realty Trust from $23.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Zacks Research raised Acadia Realty Trust from a "strong sell" rating to a "hold" rating in a report on Monday, March 23rd. Wall Street Zen lowered Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Acadia Realty Trust currently has a consensus rating of "Hold" and an average price target of $22.25.

Acadia Realty Trust Stock Up 0.1%

Shares of NYSE:AKR opened at $20.76 on Tuesday. The firm has a fifty day moving average price of $20.28 and a two-hundred day moving average price of $20.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Acadia Realty Trust has a one year low of $18.04 and a one year high of $22.36. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 230.69, a PEG ratio of 2.08 and a beta of 1.11.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.28). The firm had revenue of $104.77 million during the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 3.9%. Acadia Realty Trust's dividend payout ratio (DPR) is currently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust NYSE: AKR is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia's portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.

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