Nomura Asset Management Co. Ltd. Increases Stock Position in Acadia Realty Trust (NYSE:AKR)

Nomura Asset Management Co. Ltd. raised its stake in shares of Acadia Realty Trust (NYSE:AKR) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,456 shares of the real estate investment trust’s stock after acquiring an additional 5,000 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.11% of Acadia Realty Trust worth $3,204,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. FMR LLC raised its holdings in Acadia Realty Trust by 290.3% during the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock worth $224,910,000 after purchasing an additional 7,124,403 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Acadia Realty Trust in the second quarter valued at $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Acadia Realty Trust by 381.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock valued at $15,422,000 after purchasing an additional 520,319 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Acadia Realty Trust during the second quarter worth approximately $5,090,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Acadia Realty Trust by 173.8% during the second quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock worth $4,745,000 after purchasing an additional 168,100 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Up 0.6 %

Shares of Acadia Realty Trust stock opened at $25.35 on Friday. The firm has a market cap of $3.03 billion, a P/E ratio of 281.67, a P/E/G ratio of 6.32 and a beta of 1.46. The business has a 50-day moving average price of $24.73 and a 200 day moving average price of $21.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is 844.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AKR shares. Truist Financial boosted their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.40.

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.