Acadia Realty Trust (NYSE:AKR) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 2.6% in the first quarter, according to the company in its most recent 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 quarter. Principal Financial Group Inc. owned 0.56% of Acadia Realty Trust worth $14,057,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $46,000. Sterling Capital Management LLC boosted its position in Acadia Realty Trust by 960.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 3,344 shares during the period. Sandia Investment Management LP acquired a new position in Acadia Realty Trust during the 4th quarter valued at approximately $121,000. Xponance Inc. acquired a new position in Acadia Realty Trust during the 4th quarter valued at approximately $203,000. Finally, Walleye Capital LLC acquired a new position in Acadia Realty Trust during the 4th quarter worth $224,000. Institutional investors and hedge funds own 97.65% of the company's stock.

Analyst Ratings Changes

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

Acadia Realty Trust Trading Up 2.4%

Shares of NYSE AKR traded up $0.44 during mid-day trading on Wednesday, hitting $18.73. 1,832,555 shares of the company traded hands, compared to its average volume of 1,162,957. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $26.29. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 117.03, a PEG 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. The business has a 50 day moving average of $19.17 and a two-hundred day moving average of $20.82.

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

Acadia Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, June 30th. Acadia Realty Trust's dividend payout ratio is currently 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.