Sumitomo Mitsui Trust Holdings Inc. Has $1.91 Million Stake in Acadia Realty Trust (NYSE:AKR)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Acadia Realty Trust (NYSE:AKR) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,133 shares of the real estate investment trust’s stock after buying an additional 6,772 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.12% of Acadia Realty Trust worth $1,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AKR. Federated Hermes Inc. raised its holdings in shares of Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,152 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Acadia Realty Trust by 128.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,088 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 2,295 shares during the period. Jump Financial LLC acquired a new position in shares of Acadia Realty Trust during the third quarter valued at about $185,000. Natixis Advisors L.P. raised its holdings in shares of Acadia Realty Trust by 5.0% during the third quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 997 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Acadia Realty Trust by 3.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,359 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 1,123 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Trading Down 1.1 %

Shares of AKR stock opened at $17.47 on Thursday. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50-day simple moving average of $16.70 and a two-hundred day simple moving average of $16.14. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 91.95, a PEG ratio of 11.74 and a beta of 1.44.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust’s payout ratio is 378.97%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $20.00 in a report on Friday, April 5th. Truist Financial lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Tuesday, January 16th. Finally, Jefferies Financial Group upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and upped their target price for the stock from $15.00 to $20.00 in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.50.

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.