Federated Hermes Inc. Has $119,000 Stock Position in Acadia Realty Trust (NYSE:AKR)

Federated Hermes Inc. grew its position in shares of Acadia Realty Trust (NYSE:AKR) by 113.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,000 shares of the real estate investment trust’s stock after purchasing an additional 3,715 shares during the quarter. Federated Hermes Inc.’s holdings in Acadia Realty Trust were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Acadia Realty Trust by 128.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,088 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 2,295 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Acadia Realty Trust in the 3rd quarter valued at about $185,000. Natixis Advisors L.P. boosted its position in shares of Acadia Realty Trust by 5.0% during the 3rd quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 997 shares in the last quarter. Daiwa Securities Group Inc. grew its stake 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 worth $436,000 after purchasing an additional 1,123 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Acadia Realty Trust by 21.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,592 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 6,889 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AKR shares. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $20.00 in a report on Friday, April 5th. Truist Financial cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust currently has a consensus rating of “Hold” and an average target price of $18.50.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $16.88 on Tuesday. The company has a market cap of $1.74 billion, a P/E ratio of 211.00, a PEG ratio of 11.30 and a beta of 1.41. The company has a fifty day simple moving average of $16.78 and a 200 day simple moving average of $16.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Acadia Realty Trust has a 12-month low of $12.37 and a 12-month high of $17.90.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $69.75 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

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.