Thrivent Financial for Lutherans Trims Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Thrivent Financial for Lutherans trimmed its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 62.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,715 shares of the real estate investment trust’s stock after selling 138,145 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Acadia Realty Trust were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AKR. Louisiana State Employees Retirement System boosted its position in Acadia Realty Trust by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock valued at $930,000 after buying an additional 1,200 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Acadia Realty Trust in the third quarter worth approximately $202,000. DekaBank Deutsche Girozentrale increased its position in shares of Acadia Realty Trust by 1.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock valued at $2,234,000 after purchasing an additional 2,290 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Acadia Realty Trust by 250.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,098 shares of the real estate investment trust’s stock valued at $1,597,000 after buying an additional 63,671 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Acadia Realty Trust by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock worth $26,337,000 after buying an additional 75,233 shares in the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $26.08 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $3.12 billion, a PE ratio of 289.78, a price-to-earnings-growth ratio of 6.47 and a beta of 1.46. The firm’s 50 day simple moving average is $24.15 and its 200-day simple moving average is $21.17. Acadia Realty Trust has a one year low of $14.74 and a one year high of $26.16.

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

Acadia Realty Trust Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.91%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Wall Street Analyst Weigh In

AKR has been the subject of a number of research analyst reports. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial raised their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

About Acadia Realty Trust

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.