Asset Management One Co. Ltd. lifted its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,733 shares of the real estate investment trust's stock after purchasing an additional 25,070 shares during the quarter. Asset Management One Co. Ltd. owned about 0.15% of Acadia Realty Trust worth $4,408,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust's stock worth $224,910,000 after acquiring an additional 7,124,403 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Acadia Realty Trust by 381.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust's stock worth $15,422,000 after purchasing an additional 520,319 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Acadia Realty Trust by 89.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 217,401 shares of the real estate investment trust's stock valued at $5,252,000 after purchasing an additional 102,496 shares during the last quarter. Advisors Preferred LLC increased its stake in Acadia Realty Trust by 58.3% during the 4th quarter. Advisors Preferred LLC now owns 272,590 shares of the real estate investment trust's stock valued at $6,515,000 after purchasing an additional 100,443 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Acadia Realty Trust by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust's stock worth $45,331,000 after buying an additional 83,180 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on AKR. Truist Financial increased their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, December 5th. StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $23.00.
Read Our Latest Stock Report on AKR
Acadia Realty Trust Stock Performance
Shares of NYSE AKR traded down $0.21 during trading on Friday, reaching $22.76. 1,193,755 shares of the company traded hands, compared to its average volume of 958,416. The company has a quick ratio of 1.14, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $23.48 and a 200-day simple moving average of $23.54. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The stock has a market capitalization of $2.72 billion, a PE ratio of 126.43, a P/E/G ratio of 6.29 and a beta of 1.46.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. Equities research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's dividend payout ratio is 422.22%.
Acadia Realty Trust Company Profile
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Free Report)
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.
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