Acadia Realty Trust (NYSE:AKR) has been making headlines recently with its latest acquisition by Ziegler Capital Management LLC. This move is expected to be one of many as the real estate investment trust continues to deliver operating platforms and investment strategy to its investors. The acquisition saw Ziegler obtaining a new stake in AKR, acquiring 68,520 shares worth over $980,000.
Under its Core Portfolio segment, Acadia Realty Trust specializes in owning and managing retail properties across various markets. Its Funds segment provides retail real estate investment opportunities for investors seeking to access the market through a diversified portfolio of assets.
Despite opening at $13.78 on Wednesday, AKR’s impressive performance in recent months has reaffirmed its position in the market. Notably, the company boasts a quick ratio of 1.05 and current ratio of 1.05, indicating strong liquidity levels.
The fact that Ziegler Capital Management LLC now holds 0.07% stake in Acadia Realty Trust demonstrates investor confidence in the company’s business strategy and management team.
Notwithstanding the challenges posed by the pandemic, Acadia Realty Trust remains focused on delivering value to its shareholders through active asset management and strategic investments in viable markets.
As we navigate ever-changing economic landscape, it will be interesting to see how Acadia Realty Trust leverages its Core Portfolio, funds and structured financing strategies going forward. All indications are that this resolute real estate investment trust will continue prospering amidst uncertainty and challenges that characterizes today’s global markets.
Institutional Investors Make Significant Moves in Acadia Realty Trust Despite Challenges
Institutional investors have been making moves in the world of real estate investment trusts, with significant purchases and sales of shares in Acadia Realty Trust (AKR) occurring recently. Cohen & Steers Inc. increased its stake in the company during the third quarter by 13.2%, now owning an impressive 14,400,440 shares worth $181,734,000. Price T Rowe Associates Inc. MD also boosted its shareholdings by 13.6% during the second quarter, bringing its total to 5,635,608 shares worth $88,028,000. State Street Corp increased its stake by 12.3% during Q1 and now owns 5,525,753 shares valued at $120,714,000.
Additionally, Long Pond Capital LP acquired a new position in AKR during Q3 worth approximately $5,768,000 whilst Citadel Advisors LLC increased its holdings spectacularly by 117.6%, resulting in ownership of 701,469 shares worth $10,957,000.
Furthermore recent research has highlighted certain challenges faced by AKR with Citigroup lowering their rating on the stock from “buy” to “neutral”, following a reduction of AKR’s price target from $17 to $16 per share last December. Similarly JPMorgan Chase & Co downgraded their target price on AKR from $19 to $16 per share citing them as being underweight in comparison to other stocks facing similar challenges within the sector.
StockNews.com purchased coverage of AKR stating they had initiated coverage on Thursday March 16th and assigned a “sell” rating to its stock overall due to various breakdowns currently occurring within it’s business structure.
Despite these issues AKR announced recently that they will declare an annualised quarterly dividend payout ratio (DPR), offering shareholders a dividend payout yield of over 5%. Shareholders who were recorded having positions in the organisation as of Friday March 31st will be eligible for the $0.18 dividend payout which is expected to come into affect on Friday April 14th of this year.