Nuveen Asset Management LLC Grows Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Posted by Defense World Staff on Mar 4th, 2023

Nuveen Asset Management LLC grew its holdings in Acadia Realty Trust (NYSE:AKR – Get Rating) by 18.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,587,162 shares of the real estate investment trust’s stock after acquiring an additional 251,939 shares during the period. Nuveen Asset Management LLC owned about 1.67% of Acadia Realty Trust worth $20,030,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AKR. Envestnet Asset Management Inc. boosted its holdings in shares of Acadia Realty Trust by 15.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,476 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 1,803 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Acadia Realty Trust by 37.7% in the 1st quarter. Natixis Advisors L.P. now owns 14,668 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 4,019 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Acadia Realty Trust by 54.8% in the 1st quarter. MetLife Investment Management LLC now owns 46,773 shares of the real estate investment trust’s stock valued at $1,014,000 after purchasing an additional 16,554 shares during the period. Rhumbline Advisers lifted its stake in shares of Acadia Realty Trust by 0.7% in the 1st quarter. Rhumbline Advisers now owns 259,180 shares of the real estate investment trust’s stock valued at $5,616,000 after purchasing an additional 1,738 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Acadia Realty Trust by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 76,256 shares of the real estate investment trust’s stock valued at $1,652,000 after purchasing an additional 9,402 shares during the period.

Analyst Ratings Changes

AKR has been the subject of several analyst reports. Citigroup cut shares of Acadia Realty Trust from a “buy” rating to a “neutral” rating and decreased their target price for the company from $17.00 to $16.00 in a research note on Wednesday, December 14th. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Acadia Realty Trust from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Tuesday, December 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.17.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $14.59 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.00 and a current ratio of 1.05. The company has a fifty day moving average of $14.88 and a two-hundred day moving average of $14.74. The stock has a market capitalization of $1.39 billion, a PE ratio of -37.41, a P/E/G ratio of 2.04 and a beta of 1.47. Acadia Realty Trust has a fifty-two week low of $12.28 and a fifty-two week high of $22.63.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, March 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is -184.62%.

Acadia Realty Trust Profile

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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.