State of Alaska Department of Revenue Acquires 15,092 Shares of Acadia Realty Trust (NYSE:AKR)

State of Alaska Department of Revenue lifted its stake in Acadia Realty Trust (NYSE:AKR) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,103 shares of the real estate investment trust’s stock after purchasing an additional 15,092 shares during the period. State of Alaska Department of Revenue owned about 0.10% of Acadia Realty Trust worth $2,996,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its position in Acadia Realty Trust by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock valued at $3,725,000 after buying an additional 476 shares during the period. USA Financial Formulas boosted its holdings in shares of Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 489 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Acadia Realty Trust by 2.5% in the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock valued at $559,000 after purchasing an additional 582 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 1,039 shares in the last quarter. Finally, KBC Group NV increased its holdings in Acadia Realty Trust by 44.1% during the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,448 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Price Performance

AKR opened at $23.46 on Monday. The firm has a market capitalization of $2.81 billion, a PE ratio of 260.71, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50-day moving average is $23.77 and its two-hundred day moving average is $23.40. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29.

Analysts Set New Price Targets

AKR has been the topic of a number of recent research reports. Truist Financial increased their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.00.

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.