Acadia Realty Trust (NYSE:AKR) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Acadia Realty Trust (NYSE:AKR) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,905 shares of the real estate investment trust’s stock after acquiring an additional 3,842 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Acadia Realty Trust worth $2,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AKR. Vanguard Group Inc. increased its stake in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after acquiring an additional 1,192,138 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in Acadia Realty Trust during the 2nd quarter worth approximately $18,070,000. Price T Rowe Associates Inc. MD increased its position in Acadia Realty Trust by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after purchasing an additional 388,067 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Acadia Realty Trust during the 2nd quarter worth approximately $5,090,000. Finally, Renaissance Technologies LLC increased its position in Acadia Realty Trust by 173.8% during the 2nd quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock worth $4,745,000 after purchasing an additional 168,100 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AKR. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Acadia Realty Trust Stock Up 1.2 %

NYSE AKR opened at $24.89 on Tuesday. The stock has a market cap of $2.98 billion, a PE ratio of 276.56, a P/E/G ratio of 6.22 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $14.62 and a fifty-two week high of $25.58. The business has a 50 day moving average price of $23.79 and a two-hundred day moving average price of $20.79. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR) last released its quarterly 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). The company had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, sell-side analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.