State of Alaska Department of Revenue Increases Stock Holdings in Acadia Realty Trust $AKR

Key Points

• The State of Alaska Department of Revenue increased its stake in Acadia Realty Trust by 15.3%, owning 141,912 shares valued at approximately $2.63 million.
• Acadia Realty Trust reported $0.32 EPS for the last quarter, missing estimates, but saw a 15.3% increase in revenue year-over-year, totaling $98.30 million.
• The company declared a quarterly dividend of $0.20 per share, with an ex-dividend date on September 30th, resulting in a yield of 3.9%.

State of Alaska Department of Revenue raised its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,912 shares of the real estate investment trust's stock after purchasing an additional 18,794 shares during the quarter. State of Alaska Department of Revenue owned 0.11% of Acadia Realty Trust worth $2,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AKR. GAMMA Investing LLC grew its stake in shares of Acadia Realty Trust by 57.7% in the 2nd quarter. GAMMA Investing LLC now owns 5,120 shares of the real estate investment trust's stock valued at $95,000 after purchasing an additional 1,873 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Acadia Realty Trust in the 1st quarter valued at approximately $318,000. Teacher Retirement System of Texas purchased a new stake in shares of Acadia Realty Trust in the first quarter valued at approximately $364,000. Inspire Investing LLC boosted its stake in shares of Acadia Realty Trust by 3.4% in the first quarter. Inspire Investing LLC now owns 19,254 shares of the real estate investment trust's stock valued at $403,000 after buying an additional 640 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Acadia Realty Trust in the first quarter valued at approximately $411,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock opened at $20.38 on Thursday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 127.40, a PEG ratio of 4.06 and a beta of 1.47. The stock has a fifty day moving average price of $19.55 and a 200 day moving average price of $19.47. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $26.29. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67.

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 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to analyst estimates of $81.89 million. Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Equities research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share 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. Shareholders of record on Tuesday, September 30th will be paid 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 3.9%. Acadia Realty Trust's dividend payout ratio is currently 500.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Citigroup upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $23.00 in a research note on Friday, September 12th. Wall Street Zen downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH assumed coverage on Acadia Realty Trust in a research note on Tuesday, September 9th. They issued a "neutral" rating and a $21.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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