Principal Financial Group Inc. Boosts Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Principal Financial Group Inc. raised its holdings in Acadia Realty Trust (NYSE:AKR) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 670,957 shares of the real estate investment trust’s stock after purchasing an additional 16,957 shares during the period. Principal Financial Group Inc. owned 0.56% of Acadia Realty Trust worth $14,057,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Acadia Realty Trust by 8.8% in 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 purchasing an additional 1,459,448 shares in the last quarter. FMR LLC grew its stake in Acadia Realty Trust by 21.3% during the fourth quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust’s stock valued at $280,757,000 after acquiring an additional 2,041,986 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 acquiring an additional 308,117 shares in the last quarter. Northern Trust Corp grew its stake in Acadia Realty Trust by 73.1% during the fourth quarter. Northern Trust Corp now owns 1,972,104 shares of the real estate investment trust’s stock valued at $47,646,000 after acquiring an additional 832,794 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Acadia Realty Trust during the fourth quarter valued at approximately $38,508,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, April 10th.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $18.44 on Friday. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The stock has a market cap of $2.41 billion, a P/E ratio of 115.25, a P/E/G ratio of 2.89 and a beta of 1.36. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $19.20 and a 200 day moving average of $20.90.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Acadia Realty Trust had a net margin of 5.36% and a return on equity of 0.81%. The business had revenue of $104.39 million during the quarter, compared to analyst estimates of $86.99 million. During the same period in the previous year, the business posted $0.33 earnings per share. Acadia Realty Trust’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 4.34%. Acadia Realty Trust’s payout ratio is presently 500.00%.

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.