Heitman Real Estate Securities LLC Sells 14,068 Shares of Acadia Realty Trust (NYSE:AKR)

Heitman Real Estate Securities LLC trimmed its position in Acadia Realty Trust (NYSE:AKR) by 20.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 54,040 shares of the real estate investment trust’s stock after selling 14,068 shares during the period. Heitman Real Estate Securities LLC’s holdings in Acadia Realty Trust were worth $1,269,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 572 shares in the last quarter. USA Financial Formulas acquired a new stake in Acadia Realty Trust during the 3rd quarter worth approximately $80,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 1,039 shares during the last quarter. SG Americas Securities LLC acquired a new position in Acadia Realty Trust in the 2nd quarter valued at approximately $103,000. Finally, Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust during the third quarter valued at $202,000. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Down 0.9 %

Shares of Acadia Realty Trust stock opened at $25.63 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a 52 week low of $15.48 and a 52 week high of $26.29. The stock has a 50 day moving average price of $24.28 and a two-hundred day moving average price of $21.32. The stock has a market capitalization of $3.07 billion, a PE ratio of 284.78, a price-to-earnings-growth ratio of 6.53 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is 844.44%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AKR shares. Truist Financial lifted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.60.

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.