Resona Asset Management Co. Ltd. Purchases New Position in Acadia Realty Trust (NYSE:AKR)

Resona Asset Management Co. Ltd. bought a new position in Acadia Realty Trust (NYSE:AKR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 47,427 shares of the real estate investment trust's stock, valued at approximately $1,139,000.

Several other large investors have also made changes to their positions in AKR. Vanguard Group Inc. lifted its stake in 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 valued at $437,230,000 after acquiring an additional 1,459,448 shares in the last quarter. Norges Bank bought a new stake in Acadia Realty Trust in the 4th quarter valued at $8,439,000. Geode Capital Management LLC grew its stake in shares of Acadia Realty Trust by 11.7% in 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. Charles Schwab Investment Management Inc. grew its position in shares of Acadia Realty Trust by 11.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock worth $51,958,000 after purchasing an additional 219,983 shares in the last quarter. Finally, Amundi grew its position in Acadia Realty Trust by 278.1% during the fourth quarter. Amundi now owns 284,052 shares of the real estate investment trust's stock worth $6,479,000 after buying an additional 208,933 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

Insiders Place Their Bets

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.83% of the company's stock.

Acadia Realty Trust Stock Up 1.8 %

Shares of AKR traded up $0.34 during trading hours on Wednesday, hitting $19.39. The stock had a trading volume of 57,237 shares, compared to its average volume of 1,115,712. The firm has a market capitalization of $2.32 billion, a P/E ratio of 107.67, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The firm has a 50 day simple moving average of $21.54 and a 200-day simple moving average of $23.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Sell-side analysts predict that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.13%. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's payout ratio is 444.44%.

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 objective for the company in a research report on Thursday, April 10th.

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.