Texas Permanent School Fund boosted its holdings in Acadia Realty Trust (NYSE:AKR – Get Rating) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,581 shares of the real estate investment trust’s stock after purchasing an additional 5,871 shares during the quarter. Texas Permanent School Fund’s holdings in Acadia Realty Trust were worth $1,071,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of AKR. Quantbot Technologies LP purchased a new stake in Acadia Realty Trust in the 1st quarter valued at $45,000. Point72 Hong Kong Ltd purchased a new stake in Acadia Realty Trust in the 1st quarter valued at $75,000. KBC Group NV raised its position in Acadia Realty Trust by 34.0% in the 2nd quarter. KBC Group NV now owns 7,360 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 1,868 shares during the last quarter. Van ECK Associates Corp raised its position in Acadia Realty Trust by 8.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,449 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 671 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Acadia Realty Trust during the 2nd quarter worth $159,000.
Wall Street Analysts Forecast Growth
AKR has been the subject of a number of analyst reports. TheStreet downgraded shares of Acadia Realty Trust from a “c” rating to a “d+” rating in a research report on Tuesday, November 1st. Truist Financial cut their price objective on shares of Acadia Realty Trust from $22.00 to $17.00 in a research report on Thursday, October 20th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. Finally, Citigroup upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday, September 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.83.
Acadia Realty Trust Stock Performance
Acadia Realty Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.83%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently -180.00%.
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.
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