Sumitomo Mitsui Trust Group Inc. Has $5.25 Million Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Acadia Realty Trust (NYSE:AKR) by 89.2% during the fourth quarter, Holdings Channel reports. The firm owned 217,401 shares of the real estate investment trust’s stock after buying an additional 102,496 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Acadia Realty Trust were worth $5,252,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AKR. IFM Investors Pty Ltd grew its stake 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 purchasing an additional 582 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 purchasing an additional 1,039 shares during the period. Custom Index Systems LLC bought a new stake in shares of Acadia Realty Trust in the 3rd quarter valued at approximately $202,000. abrdn plc grew its stake in shares of Acadia Realty Trust by 10.0% in the 3rd quarter. abrdn plc now owns 21,535 shares of the real estate investment trust’s stock valued at $506,000 after purchasing an additional 1,954 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Acadia Realty Trust by 14.7% in the 3rd quarter. Van ECK Associates Corp now owns 17,727 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 2,268 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Stock Up 2.8 %

NYSE AKR opened at $24.75 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of 274.98, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46. Acadia Realty Trust has a one year low of $16.09 and a one year high of $26.29. The stock’s 50 day simple moving average is $23.65 and its 200 day simple moving average is $23.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. As a group, sell-side analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This is an increase 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 yield of 3.23%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AKR. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Truist Financial increased their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.00.

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.