Louisiana State Employees Retirement System Purchases New Holdings in Acadia Realty Trust (NYSE:AKR)

Louisiana State Employees Retirement System bought a new stake in Acadia Realty Trust (NYSE:AKR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,700 shares of the real estate investment trust's stock, valued at approximately $810,000. Louisiana State Employees Retirement System owned about 0.05% of Acadia Realty Trust as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Acadia Realty Trust by 1.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,003 shares of the real estate investment trust's stock valued at $631,000 after buying an additional 781 shares during the period. Natixis Advisors L.P. boosted its position in Acadia Realty Trust by 5.0% during the third quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust's stock valued at $299,000 after buying an additional 997 shares during the period. Daiwa Securities Group Inc. boosted its position in Acadia Realty Trust by 3.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,359 shares of the real estate investment trust's stock valued at $436,000 after buying an additional 1,123 shares during the period. Nisa Investment Advisors LLC boosted its position in Acadia Realty Trust by 2.3% during the third quarter. Nisa Investment Advisors LLC now owns 55,229 shares of the real estate investment trust's stock valued at $793,000 after buying an additional 1,241 shares during the period. Finally, Swiss National Bank boosted its position in Acadia Realty Trust by 1.0% during the third quarter. Swiss National Bank now owns 209,300 shares of the real estate investment trust's stock valued at $3,003,000 after buying an additional 2,100 shares during the period. Institutional investors own 97.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AKR. Jefferies Financial Group upgraded shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and increased their target price for the stock from $15.00 to $20.00 in a report on Tuesday, January 2nd. Truist Financial lowered shares of Acadia Realty Trust from a "buy" rating to a "hold" rating and set a $18.00 price objective for the company. in a report on Tuesday, January 16th. Finally, Bank of America upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $18.50.

Acadia Realty Trust Stock Down 0.3 %

Shares of NYSE AKR traded down $0.06 on Friday, reaching $17.32. 678,206 shares of the company's stock traded hands, compared to its average volume of 1,140,109. Acadia Realty Trust has a 12 month low of $12.37 and a 12 month high of $17.73. The business's 50 day simple moving average is $16.72 and its two-hundred day simple moving average is $16.19. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 91.16, a price-to-earnings-growth ratio of 11.66 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust's dividend payout ratio is 378.97%.

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.