Principal Financial Group Inc. grew its stake in Acadia Realty Trust (NYSE:AKR - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 654,000 shares of the real estate investment trust's stock after purchasing an additional 94,565 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Acadia Realty Trust worth $15,801,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Asset Management One Co. Ltd. lifted its stake in shares of Acadia Realty Trust by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust's stock valued at $3,725,000 after purchasing an additional 476 shares during the period. USA Financial Formulas increased its position in shares of Acadia Realty Trust by 14.4% in the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 489 shares in the last quarter. Monument Capital Management increased its position in shares of Acadia Realty Trust by 3.7% in the 4th quarter. Monument Capital Management now owns 13,882 shares of the real estate investment trust's stock valued at $335,000 after buying an additional 489 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Acadia Realty Trust by 2.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust's stock valued at $559,000 after buying an additional 582 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Acadia Realty Trust by 35.0% in 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 buying an additional 1,039 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on AKR shares. Truist Financial upped their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. StockNews.com cut shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Acadia Realty Trust has a consensus rating of "Hold" and a consensus target price of $23.00.
Check Out Our Latest Analysis on Acadia Realty Trust
Acadia Realty Trust Stock Up 0.6 %
AKR stock traded up $0.15 during trading hours on Friday, reaching $23.11. 2,562,884 shares of the stock were exchanged, compared to its average volume of 983,420. The firm's 50-day moving average is $23.29 and its 200-day moving average is $23.62. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 128.36, a PEG ratio of 6.09 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. 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 released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, equities research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.
Acadia Realty Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.20 dividend. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.46%. Acadia Realty Trust's dividend payout ratio (DPR) is presently 444.44%.
About Acadia Realty Trust
(
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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