Sumitomo Mitsui Trust Holdings Inc. Increases Stake in Acadia Realty Trust (NYSE:AKR)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Acadia Realty Trust (NYSE:AKR) by 6.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 112,133 shares of the real estate investment trust’s stock after buying an additional 6,772 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Acadia Realty Trust were worth $1,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AKR. Tudor Investment Corp Et Al purchased a new position in shares of Acadia Realty Trust during the third quarter valued at about $2,984,000. GSA Capital Partners LLP purchased a new position in shares of Acadia Realty Trust during the third quarter valued at about $2,297,000. Vanguard Group Inc. increased its position in shares of Acadia Realty Trust by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock valued at $223,316,000 after buying an additional 118,807 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Acadia Realty Trust by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,627,993 shares of the real estate investment trust’s stock valued at $23,362,000 after buying an additional 67,141 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Acadia Realty Trust during the third quarter valued at about $956,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Analyst Upgrades and Downgrades

AKR has been the topic of several research reports. Jefferies Financial Group raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $20.00 in a research note on Tuesday, January 2nd. Truist Financial lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, January 16th. Finally, Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.00 to $20.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.50.

Acadia Realty Trust Trading Down 1.1 %

NYSE:AKR opened at $17.47 on Thursday. The company’s 50-day simple moving average is $16.70 and its 200 day simple moving average is $16.14. The firm has a market capitalization of $1.80 billion, a P/E ratio of 91.95, a PEG ratio of 11.74 and a beta of 1.44. Acadia Realty Trust has a one year low of $12.37 and a one year high of $17.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.72 annualized dividend and a dividend yield of 4.12%. Acadia Realty Trust’s dividend payout ratio is presently 378.97%.

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.