Public Employees Retirement System of Ohio Acquires 18,268 Shares of Acadia Realty Trust $AKR

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Acadia Realty Trust by 10.8% during the 2nd quarter, owning approximately 0.14% of the company worth $3,483,000 at the end of the reporting period.
• Acadia Realty Trust reported $0.32 earnings per share for its recent quarter, missing the consensus estimate by $0.01, but revenue increased 15.3% year-over-year, totaling $98.30 million.
• The company announced a quarterly dividend of $0.20 per share, to be paid on October 15th, representing an annualized yield of 4.0%.

Public Employees Retirement System of Ohio raised its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,562 shares of the real estate investment trust's stock after acquiring an additional 18,268 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.14% of Acadia Realty Trust worth $3,483,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of 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 worth $1,425,000 after acquiring an additional 65,020 shares in the last quarter. Amundi grew its stake in shares of Acadia Realty Trust by 11.6% during the 1st quarter. Amundi now owns 316,941 shares of the real estate investment trust's stock worth $6,171,000 after acquiring an additional 32,889 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 worth $14,057,000 after acquiring an additional 16,957 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Acadia Realty Trust in the 1st quarter valued at approximately $411,000. Finally, Strs Ohio acquired a new stake in shares of Acadia Realty Trust in the 1st quarter valued at approximately $463,000. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Trading Down 0.3%

Shares of Acadia Realty Trust stock opened at $20.13 on Wednesday. The business has a fifty day simple moving average of $19.53 and a two-hundred day simple moving average of $19.46. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $26.29. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 125.82, a P/E/G ratio of 4.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 1.05.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced 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). Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The business had revenue of $98.30 million for the quarter, compared to analyst estimates of $81.89 million. During the same period in the prior year, the business earned $0.31 EPS. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Research analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.0%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 500.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and increased their price objective for the company from $20.00 to $23.00 in a report on Friday, September 12th. Wall Street Zen downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH assumed coverage on Acadia Realty Trust in a report on Tuesday, September 9th. They issued a "neutral" rating and a $21.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.50.

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.

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