Sumitomo Mitsui Trust Group Inc. Grows Holdings in Acadia Realty Trust (NYSE:AKR)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Acadia Realty Trust (NYSE:AKR) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 114,905 shares of the real estate investment trust’s stock after acquiring an additional 3,842 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Acadia Realty Trust were worth $2,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AKR. Vanguard Group Inc. raised its position in shares of Acadia Realty Trust by 7.7% during 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 in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter valued at approximately $18,070,000. Price T Rowe Associates Inc. MD raised its position in shares of Acadia Realty Trust by 4.6% during the 1st 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 acquiring an additional 388,067 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter valued at approximately $5,090,000. Finally, Renaissance Technologies LLC raised its position in shares of Acadia Realty Trust by 173.8% during the 2nd quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock valued at $4,745,000 after acquiring an additional 168,100 shares in the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Acadia Realty Trust Price Performance

Shares of AKR opened at $24.89 on Tuesday. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 276.56, a price-to-earnings-growth ratio of 6.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a one year low of $14.62 and a one year high of $25.58. The stock’s fifty day moving average is $23.79 and its 200-day moving average is $20.79.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results 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 net margin of 3.07% and a return on equity of 0.48%. Acadia Realty Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. Equities analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is 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.