Northern Trust Corp Increases Stake in Acadia Realty Trust $AKR

Key Points

• Northern Trust Corp increased its stake in Acadia Realty Trust by 4.5%, acquiring an additional 87,978 shares, bringing its total holdings to 2,060,082 shares valued at approximately $43.2 million.
• Acadia Realty Trust recently reported earnings of $0.32 per share, slightly missing the consensus estimate, with a revenue of $98.3 million, significantly exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.20 per share, indicating a 4.0% yield, with an ex-dividend date set for September 30th.

Northern Trust Corp increased its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,060,082 shares of the real estate investment trust's stock after purchasing an additional 87,978 shares during the period. Northern Trust Corp owned approximately 1.57% of Acadia Realty Trust worth $43,159,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Acadia Realty Trust by 2,163.7% during the 1st quarter. GAMMA Investing LLC now owns 68,025 shares of the real estate investment trust's stock valued at $1,425,000 after buying an additional 65,020 shares during the period. Principal Financial Group Inc. boosted its position in Acadia Realty Trust by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 670,957 shares of the real estate investment trust's stock valued at $14,057,000 after buying an additional 16,957 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Acadia Realty Trust during the 1st quarter valued at $411,000. Bank of New York Mellon Corp boosted its position in Acadia Realty Trust by 10.5% during the 1st 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 buying an additional 116,855 shares during the period. Finally, Arizona State Retirement System boosted its position in Acadia Realty Trust by 12.3% during the 1st quarter. Arizona State Retirement System now owns 34,321 shares of the real estate investment trust's stock valued at $719,000 after buying an additional 3,753 shares during the period. Hedge funds and other institutional investors own 97.65% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $25.00.

Acadia Realty Trust Stock Up 0.3%

Shares of Acadia Realty Trust stock traded up $0.06 during trading on Wednesday, hitting $19.89. The company's stock had a trading volume of 1,216,777 shares, compared to its average volume of 1,273,690. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.05. The company has a fifty day simple moving average of $18.96 and a two-hundred day simple moving average of $19.83. The company has a market capitalization of $2.61 billion, a PE ratio of 124.29, a P/E/G ratio of 3.98 and a beta of 1.48. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to the consensus estimate of $81.89 million. Acadia Realty Trust had a return on equity of 0.79% and a net margin of 5.31%.The firm's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Equities research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Acadia Realty Trust's dividend payout ratio (DPR) 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.