Russell Investments Group Ltd. Boosts Holdings in Acadia Realty Trust $AKR

Key Points

• Russell Investments Group Ltd. increased its stake in Acadia Realty Trust by 90.7%, owning 283,555 shares valued at approximately $5.94 million as of the most recent SEC filing.
• Acadia Realty Trust recently reported a net revenue increase of 15.3% year-over-year, with a quarterly revenue of $98.30 million, although it missed earnings expectations by $0.01.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 4.1%, despite a high dividend payout ratio of 500%.

Russell Investments Group Ltd. increased its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 90.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,555 shares of the real estate investment trust's stock after acquiring an additional 134,897 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Acadia Realty Trust worth $5,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKR. Wells Fargo & Company MN grew its position in Acadia Realty Trust by 39.5% in the fourth quarter. Wells Fargo & Company MN now owns 76,646 shares of the real estate investment trust's stock worth $1,852,000 after acquiring an additional 21,688 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Acadia Realty Trust by 22.8% during the fourth quarter. Bank of Montreal Can now owns 14,772 shares of the real estate investment trust's stock valued at $357,000 after buying an additional 2,738 shares during the period. Sterling Capital Management LLC raised its stake in shares of Acadia Realty Trust by 960.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 3,344 shares in the last quarter. Mariner LLC raised its stake in shares of Acadia Realty Trust by 2.5% during the fourth quarter. Mariner LLC now owns 44,221 shares of the real estate investment trust's stock valued at $1,068,000 after acquiring an additional 1,080 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Acadia Realty Trust during the fourth quarter valued at approximately $224,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded up $0.5950 during mid-day trading on Friday, hitting $20.0350. The stock had a trading volume of 1,543,659 shares, compared to its average volume of 1,539,471. 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 company has a 50 day moving average of $18.82 and a two-hundred day moving average of $20.02. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $26.29. The firm has a market cap of $2.62 billion, a PE ratio of 125.23, a PEG ratio of 3.99 and a beta of 1.41.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its 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 firm had revenue of $98.30 million during the quarter, compared to analyst estimates of $81.89 million. During the same period in the previous year, the company earned $0.31 earnings per share. Acadia Realty Trust's 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. Research analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Acadia Realty Trust's dividend payout ratio is presently 500.00%.

Analysts Set New Price Targets

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

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.