Acadia Realty Trust (NYSE:AKR) Stock Position Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 11.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,693 shares of the real estate investment trust's stock after purchasing an additional 24,292 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Acadia Realty Trust worth $5,063,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AKR. FMR LLC increased its position in shares of Acadia Realty Trust by 21.3% during the 4th quarter. FMR LLC now owns 11,620,757 shares of the real estate investment trust's stock valued at $280,757,000 after purchasing an additional 2,041,986 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $38,508,000. Vanguard Group Inc. grew its stake in shares of Acadia Realty Trust by 8.8% in the 4th 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 during the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $33,107,000. Finally, Northern Trust Corp grew its stake in shares of Acadia Realty Trust by 73.1% in the 4th quarter. Northern Trust Corp now owns 1,972,104 shares of the real estate investment trust's stock worth $47,646,000 after purchasing an additional 832,794 shares during the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Trading Down 2.6%

Shares of Acadia Realty Trust stock traded down $0.48 during trading on Monday, hitting $18.16. The stock had a trading volume of 1,476,792 shares, compared to its average volume of 1,153,411. The stock has a 50 day simple moving average of $19.30 and a 200 day simple moving average of $21.04. The company has a market capitalization of $2.38 billion, a PE ratio of 113.50, a P/E/G ratio of 2.93 and a beta of 1.36. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping 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 firm had revenue of $104.39 million for the quarter, compared to analysts' expectations of $86.99 million. During the same period in the previous year, the company posted $0.33 EPS. The company's quarterly revenue was up 14.2% compared to the same quarter last year. On average, research analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.41%. Acadia Realty Trust's dividend payout ratio is 500.00%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upgraded shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research report on Thursday, April 10th.

About Acadia Realty Trust

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.