Pendal Group Ltd Has $1.22 Million Position in Acadia Realty Trust (NYSE:AKR)

Pendal Group Ltd cut its position in Acadia Realty Trust (NYSE:AKR) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,600 shares of the real estate investment trust’s stock after selling 3,500 shares during the quarter. Pendal Group Ltd owned 0.05% of Acadia Realty Trust worth $1,221,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AKR. Louisiana State Employees Retirement System increased its position in Acadia Realty Trust by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the real estate investment trust’s stock valued at $857,000 after acquiring an additional 400 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Acadia Realty Trust by 3.1% in the first quarter. New York State Common Retirement Fund now owns 111,543 shares of the real estate investment trust’s stock valued at $3,042,000 after buying an additional 3,332 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Acadia Realty Trust by 1.4% in the first quarter. Rhumbline Advisers now owns 253,829 shares of the real estate investment trust’s stock valued at $6,922,000 after buying an additional 3,558 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in shares of Acadia Realty Trust by 5.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 20,478 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Phocas Financial Corp. raised its holdings in shares of Acadia Realty Trust by 0.4% in the first quarter. Phocas Financial Corp. now owns 509,211 shares of the real estate investment trust’s stock valued at $13,886,000 after purchasing an additional 2,131 shares during the last quarter.

Shares of NYSE AKR traded up $0.18 during mid-day trading on Friday, hitting $27.64. The stock had a trading volume of 2,021 shares, compared to its average volume of 421,498. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.53 and a current ratio of 0.53. Acadia Realty Trust has a 1 year low of $23.11 and a 1 year high of $29.82. The business has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $28.02. The firm has a market cap of $2.35 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 3.52 and a beta of 0.68.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. Acadia Realty Trust had a net margin of 13.32% and a return on equity of 1.78%. The company had revenue of $71.10 million for the quarter, compared to the consensus estimate of $57.31 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts predict that Acadia Realty Trust will post 1.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, September 27th. Acadia Realty Trust’s payout ratio is 82.96%.

In related news, EVP Christopher Conlon sold 20,000 shares of Acadia Realty Trust stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $27.83, for a total value of $556,600.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $278,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John J. Gottfried sold 30,000 shares of Acadia Realty Trust stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $27.78, for a total transaction of $833,400.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares in the company, valued at $833,400. The disclosure for this sale can be found here. 2.47% of the stock is owned by insiders.

AKR has been the subject of a number of research analyst reports. Citigroup set a $30.00 price objective on shares of Acadia Realty Trust and gave the stock a “hold” rating in a report on Monday, May 20th. ValuEngine lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Compass Point began coverage on shares of Acadia Realty Trust in a research report on Thursday. They set a “buy” rating and a $30.00 target price for the company. Finally, Zacks Investment Research raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.00.

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 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 urban and street-retail 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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Institutional Ownership by Quarter for Acadia Realty Trust (NYSE:AKR)

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