Acadia Realty Trust (NYSE:AKR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Acadia Realty Trust (NYSE:AKR) by 1.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 559,435 shares of the real estate investment trust’s stock after selling 9,705 shares during the period. Principal Financial Group Inc.’s holdings in Acadia Realty Trust were worth $13,136,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Acadia Realty Trust by 7.7% in 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. Price T Rowe Associates Inc. MD lifted its stake in Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after purchasing an additional 388,067 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Acadia Realty Trust by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock worth $930,000 after buying an additional 1,200 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Acadia Realty Trust by 1.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock worth $2,234,000 after buying an additional 2,290 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Acadia Realty Trust by 80.1% in the first quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock valued at $941,000 after buying an additional 24,609 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock opened at $24.60 on Friday. Acadia Realty Trust has a 12 month low of $14.62 and a 12 month high of $25.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.94 billion, a PE ratio of 273.33, a price-to-earnings-growth ratio of 6.25 and a beta of 1.46. The business has a fifty day simple moving average of $23.74 and a 200-day simple moving average of $20.71.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is presently 844.44%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial lifted their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust 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.