Readystate Asset Management LP Buys New Stake in Acadia Realty Trust $AKR

Key Points

• Readystate Asset Management LP bought 184,007 shares of Acadia Realty Trust, valued at approximately $3.85 million, giving it a 0.13% stake. Institutional investors collectively own 97.65% of AKR.
• Analyst sentiment is generally positive: Acadia has a consensus “Moderate Buy” rating and a $24.20 target price, although ratings range from “Strong Buy” to “Sell.”
• Acadia reported quarterly EPS of $0.05, below the $0.30 consensus estimate, while revenue of $95.42 million exceeded expectations. The REIT also declared a $0.20 quarterly dividend, equivalent to a 3.9% annualized yield.

Readystate Asset Management LP purchased a new position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 184,007 shares of the real estate investment trust's stock, valued at approximately $3,848,000. Readystate Asset Management LP owned approximately 0.13% of Acadia Realty Trust at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AKR. Osaic Holdings Inc. boosted its holdings in 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 worth $41,000 after acquiring an additional 547 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Acadia Realty Trust during the 2nd quarter worth approximately $47,000. Nykredit A S acquired a new position in Acadia Realty Trust during the 2nd quarter valued at approximately $47,000. EverSource Wealth Advisors LLC raised its holdings in shares of Acadia Realty Trust by 342.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust's stock worth $55,000 after buying an additional 2,309 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Acadia Realty Trust by 62,000.0% during the fourth quarter. Covestor Ltd now owns 3,726 shares of the real estate investment trust's stock worth $77,000 after buying an additional 3,720 shares during the period. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. KeyCorp raised Acadia Realty Trust from a "sector weight" rating to an "overweight" rating and set a $25.00 price target for the company in a research report on Tuesday, August 18th. Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings upgraded shares of Acadia Realty Trust from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Citigroup increased their price objective on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Jefferies Financial Group raised shares of Acadia Realty Trust to a "strong-buy" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Acadia Realty Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.

Acadia Realty Trust Stock Performance

AKR stock opened at $20.29 on Monday. Acadia Realty Trust has a 52-week low of $18.61 and a 52-week high of $23.03. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.61. The firm has a market cap of $2.79 billion, a P/E ratio of 59.68, a PEG ratio of 2.07 and a beta of 1.09. The company's 50-day simple moving average is $21.35 and its 200-day simple moving average is $21.11.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $95.42 million during the quarter, compared to analysts' expectations of $92.36 million. Acadia Realty Trust had a net margin of 12.14% and a return on equity of 1.85%. Acadia Realty Trust's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Acadia Realty Trust has set its FY 2026 guidance at 1.240-1.260 EPS. As a group, equities analysts forecast that Acadia Realty Trust will post 1.25 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. Acadia Realty Trust's dividend payout ratio (DPR) is 235.29%.

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.

Want to see what other hedge funds are holding AKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acadia Realty Trust (NYSE:AKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source