New York State Common Retirement Fund Trims Stake in Acadia Realty Trust (NYSE:AKR)

New York State Common Retirement Fund reduced its stake in Acadia Realty Trust (NYSE:AKR) by 16.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,108 shares of the real estate investment trust’s stock after selling 12,178 shares during the period. New York State Common Retirement Fund’s holdings in Acadia Realty Trust were worth $1,247,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC grew its stake in Acadia Realty Trust by 717.7% in the 3rd quarter. SG Americas Securities LLC now owns 122,891 shares of the real estate investment trust’s stock worth $2,508,000 after acquiring an additional 107,862 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in Acadia Realty Trust in the 3rd quarter worth about $716,000. Texas Permanent School Fund grew its stake in Acadia Realty Trust by 1.7% in the 3rd quarter. Texas Permanent School Fund now owns 65,418 shares of the real estate investment trust’s stock worth $1,335,000 after acquiring an additional 1,101 shares in the last quarter. LDR Capital Management LLC grew its stake in Acadia Realty Trust by 24.0% in the 3rd quarter. LDR Capital Management LLC now owns 22,223 shares of the real estate investment trust’s stock worth $454,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Acadia Realty Trust by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 123,731 shares of the real estate investment trust’s stock worth $2,525,000 after acquiring an additional 2,059 shares in the last quarter. Institutional investors and hedge funds own 98.23% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Truist increased their price objective on shares of Acadia Realty Trust from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, December 2nd. Truist Securities increased their price objective on shares of Acadia Realty Trust from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, December 2nd. Finally, Zacks Investment Research downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, November 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust has an average rating of “Hold” and an average price target of $25.50.

In related news, EVP Christopher Conlon sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 14th. The shares were sold at an average price of $20.81, for a total transaction of $208,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jason Blacksberg sold 1,500 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $23.20, for a total transaction of $34,800.00. The disclosure for this sale can be found here. Insiders have sold 17,500 shares of company stock valued at $379,760 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

NYSE:AKR opened at $22.46 on Friday. Acadia Realty Trust has a 52 week low of $14.04 and a 52 week high of $23.33. The firm has a 50 day moving average of $21.74 and a 200 day moving average of $21.52. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 204.20, a PEG ratio of 2.29 and a beta of 1.45.

The company also recently announced a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Friday, December 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 30th. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. Acadia Realty Trust’s payout ratio is 545.50%.

Acadia Realty Trust Company Profile

Acadia Realty Trust is a real estate investment trust, which engages in delivering operating platforms and investment strategy. It operates through the following business segments: Core Portfolio, Funds, and Structured Financing. The Core Portfolio segment consists of retail properties. The Funds segment handles retail real estate.

Further Reading: Benefits of owning preferred stock

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Institutional Ownership by Quarter for Acadia Realty Trust (NYSE:AKR)

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