Sumitomo Mitsui Trust Group Inc. Has $4.62 Million Holdings in Acadia Realty Trust $AKR

Sumitomo Mitsui Trust Group Inc. reduced its position in Acadia Realty Trust (NYSE:AKR) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,887 shares of the real estate investment trust’s stock after selling 31,331 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Acadia Realty Trust worth $4,619,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in Acadia Realty Trust by 74.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,572,852 shares of the real estate investment trust’s stock worth $114,466,000 after purchasing an additional 2,370,553 shares during the last quarter. Vanderbilt University bought a new stake in shares of Acadia Realty Trust during the 4th quarter worth about $203,000. Aberdeen Group plc increased its holdings in shares of Acadia Realty Trust by 5.9% during the 4th quarter. Aberdeen Group plc now owns 47,227 shares of the real estate investment trust’s stock valued at $970,000 after acquiring an additional 2,635 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Acadia Realty Trust by 15,825.5% during the 4th quarter. SG Americas Securities LLC now owns 1,254,292 shares of the real estate investment trust’s stock valued at $25,763,000 after acquiring an additional 1,246,416 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Acadia Realty Trust by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 5,444 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 800 shares during the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AKR shares. Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price objective on Acadia Realty Trust from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, March 20th. Zacks Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Citigroup increased their price objective on Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.25.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $21.75 on Friday. The business has a 50 day moving average price of $20.32 and a 200 day moving average price of $20.20. Acadia Realty Trust has a twelve month low of $18.04 and a twelve month high of $22.36. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 241.70, a PEG ratio of 2.13 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.28). Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The business had revenue of $104.77 million for the quarter, compared to the consensus estimate of $92.19 million. During the same quarter in the previous year, the company earned $0.32 EPS. Acadia Realty Trust’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 3.7%. Acadia Realty Trust’s dividend payout ratio is presently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.