Acadia Realty Trust (NYSE:AKR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Acadia Realty Trust (NYSE:AKR) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 559,435 shares of the real estate investment trust’s stock after selling 9,705 shares during the quarter. Principal Financial Group Inc. owned about 0.53% of Acadia Realty Trust worth $13,136,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Acadia Realty Trust in the 1st quarter valued at approximately $58,000. BNP Paribas Financial Markets increased its stake in Acadia Realty Trust by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock valued at $941,000 after purchasing an additional 24,609 shares during the last quarter. Swiss National Bank raised its holdings in shares of Acadia Realty Trust by 7.5% during the first quarter. Swiss National Bank now owns 201,800 shares of the real estate investment trust’s stock worth $3,433,000 after purchasing an additional 14,000 shares during the period. Sei Investments Co. lifted its position in shares of Acadia Realty Trust by 8.2% in the 1st quarter. Sei Investments Co. now owns 52,105 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 3,940 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Acadia Realty Trust by 15.4% in the 1st quarter. ProShare Advisors LLC now owns 20,293 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 2,701 shares during the period. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $24.60 on Friday. The firm’s 50 day moving average is $23.74 and its two-hundred day moving average is $20.71. The firm has a market capitalization of $2.94 billion, a P/E ratio of 273.33, a PEG ratio of 6.25 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 52 week low of $14.62 and a 52 week high of $25.58.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate 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 business had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.09%. Acadia Realty Trust’s payout ratio is 844.44%.

Analyst Upgrades and Downgrades

AKR has been the topic of a number of recent research reports. Truist Financial raised their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.