Sumitomo Mitsui Trust Group Inc. Raises Stake in Acadia Realty Trust (NYSE:AKR)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 89.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 217,401 shares of the real estate investment trust's stock after purchasing an additional 102,496 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of Acadia Realty Trust worth $5,252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas grew its holdings in shares of Acadia Realty Trust by 14.4% during the 4th 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 1,039 shares during the last quarter. KBC Group NV grew its holdings in shares of 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 valued at $114,000 after purchasing an additional 1,448 shares during the last quarter. Custom Index Systems LLC bought a new stake in Acadia Realty Trust in the 3rd quarter worth $202,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Acadia Realty Trust in the 3rd quarter worth $202,000. Institutional investors own 97.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AKR shares. Truist Financial raised their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. StockNews.com lowered shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Acadia Realty Trust currently has an average rating of "Hold" and a consensus target price of $23.00.

Acadia Realty Trust Trading Down 3.5 %

Shares of AKR traded down $0.85 during trading hours on Monday, reaching $23.90. 1,151,262 shares of the company traded hands, compared to its average volume of 813,390. The company's fifty day moving average price is $23.58 and its two-hundred day moving average price is $23.53. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 265.51, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46. 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 has a 12 month low of $16.09 and a 12 month high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. Equities research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.35%. Acadia Realty Trust's payout ratio is presently 844.44%.

Acadia Realty Trust Company 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.