Sumitomo Mitsui Trust Group Inc. Has $5.06 Million Stock Holdings in Acadia Realty Trust (NYSE:AKR)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Acadia Realty Trust (NYSE:AKR - Free Report) by 11.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,693 shares of the real estate investment trust's stock after purchasing an additional 24,292 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Acadia Realty Trust worth $5,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Acadia Realty Trust by 21.3% in 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 buying an additional 2,041,986 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Acadia Realty Trust during the 4th quarter valued at approximately $38,508,000. Vanguard Group Inc. grew its holdings in Acadia Realty Trust by 8.8% during 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 acquiring an additional 1,459,448 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Acadia Realty Trust during the 4th quarter worth approximately $33,107,000. Finally, Northern Trust Corp grew its holdings in Acadia Realty Trust by 73.1% during 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 acquiring an additional 832,794 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Trading Up 0.7%

AKR traded up $0.13 during trading on Friday, reaching $18.64. 1,021,239 shares of the company's stock were exchanged, compared to its average volume of 1,149,373. Acadia Realty Trust has a one year low of $16.98 and a one year high of $26.29. 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 stock has a market capitalization of $2.44 billion, a PE ratio of 116.50, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The firm has a fifty day moving average price of $19.33 and a two-hundred day moving average price of $21.12.

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 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $104.39 million for the quarter, compared to analyst estimates of $86.99 million. During the same period in the prior year, the firm posted $0.33 EPS. The company's quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, June 30th. Acadia Realty Trust's dividend payout ratio is currently 500.00%.

Analysts Set New Price Targets

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

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.