OVERSEA CHINESE BANKING Corp Ltd Takes $1.12 Million Position in Acadia Realty Trust $AKR

Key Points

• OVERSEA CHINESE BANKING Corp Ltd established a new Q4 position in Acadia Realty Trust of 54,649 shares, valued at about $1.12 million, as institutional investors collectively own roughly 97.65% of the stock.
• Acadia missed quarterly EPS expectations — $0.04 vs. $0.32 consensus — while reporting revenue of $104.8M that beat estimates; analysts project about $1.23 in EPS for the current fiscal year.
• The REIT pays a quarterly dividend of $0.20 (annualized yield ~3.9%) but shows an unusually high payout ratio of 888.89%, and the Wall Street consensus is a "Hold" with a $22.25 price target.

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Acadia Realty Trust (NYSE:AKR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 54,649 shares of the real estate investment trust's stock, valued at approximately $1,122,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Wyoming boosted its stake in shares of Acadia Realty Trust by 10.8% in the 2nd 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 in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Acadia Realty Trust by 32.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 547 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Acadia Realty Trust by 1.9% in the 3rd quarter. Amalgamated Bank now owns 37,530 shares of the real estate investment trust's stock valued at $756,000 after purchasing an additional 697 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Acadia Realty Trust by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 173,200 shares of the real estate investment trust's stock valued at $3,490,000 after purchasing an additional 729 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Acadia Realty Trust by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 5,444 shares of the real estate investment trust's stock valued at $112,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Stock Down 1.5%

Shares of NYSE AKR opened at $20.77 on Thursday. The firm's 50-day simple moving average is $20.33 and its 200 day simple moving average is $20.21. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 230.78, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Acadia Realty Trust has a 12-month low of $18.04 and a 12-month high of $22.36.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.28). The company had revenue of $104.77 million for the quarter, compared to analyst estimates of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The firm's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. On average, research analysts expect that Acadia Realty Trust will post 1.23 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 Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. Acadia Realty Trust's dividend payout ratio is presently 888.89%.

Wall Street Analyst Weigh In

AKR has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Acadia Realty Trust from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, March 20th. Zacks Research upgraded shares of Acadia Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Monday, March 23rd. Citigroup upped their price target on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Acadia Realty Trust in a research report on Monday. Finally, Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, February 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, the company has an average rating of "Hold" and a consensus price target of $22.25.

Acadia Realty Trust Company Profile

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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