Resona Asset Management Co. Ltd. acquired a new position in shares of Acadia Realty Trust (NYSE:AKR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 47,427 shares of the real estate investment trust's stock, valued at approximately $1,139,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Acadia Realty Trust by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock worth $437,230,000 after buying an additional 1,459,448 shares in the last quarter. Norges Bank acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth $8,439,000. Geode Capital Management LLC lifted its holdings in shares of Acadia Realty Trust by 11.7% during the fourth quarter. Geode Capital Management LLC now owns 2,949,612 shares of the real estate investment trust's stock valued at $71,278,000 after purchasing an additional 308,117 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Acadia Realty Trust by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock valued at $51,958,000 after purchasing an additional 219,983 shares during the period. Finally, Amundi increased its stake in Acadia Realty Trust by 278.1% in the 4th quarter. Amundi now owns 284,052 shares of the real estate investment trust's stock worth $6,479,000 after purchasing an additional 208,933 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.
Wall Street Analyst Weigh In
Separately, Truist Financial upgraded Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a report on Thursday, April 10th.
Read Our Latest Stock Report on AKR
Acadia Realty Trust Price Performance
Shares of Acadia Realty Trust stock traded up $0.06 during trading on Tuesday, hitting $18.95. 254,445 shares of the company's stock traded hands, compared to its average volume of 1,058,880. The company has a market cap of $2.27 billion, a PE ratio of 105.28, a PEG ratio of 6.09 and a beta of 1.24. The firm's fifty day moving average price is $21.63 and its 200 day moving average price is $23.23. Acadia Realty Trust has a twelve month low of $16.14 and a twelve month high of $26.29. 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 (NYSE:AKR - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share 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%. Analysts forecast 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. Investors of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's dividend payout ratio is currently 444.44%.
Insider Buying and Selling at Acadia Realty Trust
In other news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.83% of the company's stock.
Acadia Realty Trust 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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