Acadia Realty Trust $AKR Stock Position Cut by Rhumbline Advisers

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Acadia Realty Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 18,582,662 shares of the real estate investment trust's stock valued at $389,307,000 after purchasing an additional 485,394 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Acadia Realty Trust by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,912,725 shares of the real estate investment trust's stock valued at $186,723,000 after acquiring an additional 83,850 shares in the last quarter. Alliancebernstein L.P. lifted its position in Acadia Realty Trust by 26.8% in the 1st quarter. Alliancebernstein L.P. now owns 3,076,073 shares of the real estate investment trust's stock valued at $64,444,000 after acquiring an additional 649,459 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Acadia Realty Trust by 4.5% during 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. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Acadia Realty Trust during the 1st quarter valued at $36,166,000. Institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Stock Up 1.2%

Acadia Realty Trust stock traded up $0.24 during mid-day trading on Wednesday, reaching $20.39. 315,888 shares of the company's stock were exchanged, compared to its average volume of 1,275,475. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $26.29. The company has a fifty day moving average of $19.21 and a 200-day moving average of $19.60. The company has a market cap of $2.67 billion, a P/E ratio of 127.35, a P/E/G ratio of 4.05 and a beta of 1.48. 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 issued its quarterly earnings data 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). The business had revenue of $98.30 million for the quarter, compared to analysts' expectations 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 period in the previous year, the business posted $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Sell-side analysts expect that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. Acadia Realty Trust's payout ratio is 500.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AKR shares. Wall Street Zen lowered Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. LADENBURG THALM/SH SH began coverage on shares of Acadia Realty Trust in a report on Tuesday, September 9th. They set a "neutral" rating and a $21.00 price objective on the stock. Finally, Citigroup raised shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $23.00 in a report on Friday, September 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.