Price T Rowe Associates Inc. MD Purchases 83,850 Shares of Acadia Realty Trust $AKR

Key Points

• Price T Rowe Associates Inc. has increased its stake in Acadia Realty Trust by acquiring an additional 83,850 shares, bringing its total ownership to approximately 8.91 million shares, valued at around $186.7 million.
• Acadia Realty Trust reported earnings of $0.32 per share for the last quarter, slightly missing analyst estimates, but its revenue increased by 15.3% year-over-year, totaling $98.3 million.
• The company declared a quarterly dividend of $0.20 per share, with a payout on October 15th, representing a 4.0% yield based on its new annualized rate.

Price T Rowe Associates Inc. MD grew its position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,912,725 shares of the real estate investment trust's stock after buying an additional 83,850 shares during the period. Price T Rowe Associates Inc. MD owned approximately 6.81% of Acadia Realty Trust worth $186,723,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Acadia Realty Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 18,582,662 shares of the real estate investment trust's stock valued at $389,307,000 after buying an additional 485,394 shares during the period. Northern Trust Corp increased its holdings in Acadia Realty Trust by 4.5% in the 1st quarter. Northern Trust Corp now owns 2,060,082 shares of the real estate investment trust's stock valued at $43,159,000 after buying an additional 87,978 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Acadia Realty Trust in the 1st quarter valued at about $36,166,000. Balyasny Asset Management L.P. bought a new position in Acadia Realty Trust in the 4th quarter valued at about $38,508,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Acadia Realty Trust by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,575,874 shares of the real estate investment trust's stock worth $38,073,000 after buying an additional 109,116 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Acadia Realty Trust Trading Down 0.2%

Shares of NYSE AKR traded down $0.05 during trading on Friday, reaching $20.02. The company had a trading volume of 1,558,754 shares, compared to its average volume of 1,412,464. The company's fifty day moving average price is $18.89 and its 200-day moving average price is $19.92. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The stock has a market cap of $2.62 billion, a P/E ratio of 125.10, a PEG ratio of 3.99 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

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

Acadia Realty Trust Dividend Announcement

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