Rhumbline Advisers Sells 13,134 Shares of Acadia Realty Trust $AKR

Key Points

• Rhumbline Advisers has decreased its stake in Acadia Realty Trust (NYSE:AKR) by 3.6% during Q1, leading to ownership of approximately 356,692 shares valued at $7.47 million.
• Acadia Realty Trust reported Q2 earnings of $0.32 per share, which missed the consensus estimate by $0.01, although revenue increased 15.3% year-over-year.
• The company declared a quarterly dividend of $0.20 per share to be paid on October 15, representing a yield of 4.0% with a significant payout ratio of 500%.

Rhumbline Advisers decreased its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,692 shares of the real estate investment trust's stock after selling 13,134 shares during the quarter. Rhumbline Advisers owned 0.27% of Acadia Realty Trust worth $7,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AKR. Mercer Global Advisors Inc. ADV purchased a new position in shares of Acadia Realty Trust during the fourth quarter valued at $378,000. Bank of America Corp DE boosted its position in Acadia Realty Trust by 37.3% during the fourth quarter. Bank of America Corp DE now owns 281,151 shares of the real estate investment trust's stock valued at $6,793,000 after purchasing an additional 76,394 shares during the last quarter. Citadel Advisors LLC boosted its position in Acadia Realty Trust by 29.5% during the fourth quarter. Citadel Advisors LLC now owns 348,155 shares of the real estate investment trust's stock valued at $8,411,000 after purchasing an additional 79,222 shares during the last quarter. Captrust Financial Advisors boosted its position in Acadia Realty Trust by 2.1% during the fourth quarter. Captrust Financial Advisors now owns 34,877 shares of the real estate investment trust's stock valued at $843,000 after purchasing an additional 731 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Acadia Realty Trust during the fourth quarter valued at $257,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock traded up $0.40 during trading on Friday, reaching $20.17. The company's stock had a trading volume of 2,141,544 shares, compared to its average volume of 1,349,577. 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 business's fifty day moving average price is $19.13 and its 200-day moving average price is $19.62. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 126.07, a price-to-earnings-growth ratio of 4.03 and a beta of 1.48. Acadia Realty Trust has a one year low of $16.98 and a one year high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings data 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). 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 company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. As a group, equities research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Acadia Realty Trust's payout ratio is currently 500.00%.

Wall Street Analysts Forecast Growth

AKR has been the subject of a number of research reports. LADENBURG THALM/SH SH initiated coverage on Acadia Realty Trust in a research report on Tuesday, September 9th. They set a "neutral" rating and a $21.00 price objective for the company. Wall Street Zen cut Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Citigroup raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $20.00 to $23.00 in a research report on Friday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.50.

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.