Nomura Asset Management Co. Ltd. Raises Holdings in Acadia Realty Trust (NYSE:AKR)

Nomura Asset Management Co. Ltd. raised its holdings in Acadia Realty Trust (NYSE:AKR) by 13.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 155,490 shares of the real estate investment trust’s stock after purchasing an additional 19,034 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Acadia Realty Trust were worth $3,757,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. New Age Alpha Advisors LLC purchased a new stake in Acadia Realty Trust in the 4th quarter valued at about $374,000. Norges Bank acquired a new stake in shares of Acadia Realty Trust during the fourth quarter valued at about $8,439,000. Easterly Investment Partners LLC raised its stake in shares of Acadia Realty Trust by 54.2% in the 4th quarter. Easterly Investment Partners LLC now owns 408,702 shares of the real estate investment trust’s stock valued at $9,874,000 after acquiring an additional 143,606 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of Acadia Realty Trust by 14.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 32,700 shares of the real estate investment trust’s stock worth $790,000 after purchasing an additional 4,100 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Acadia Realty Trust by 18.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 78,722 shares of the real estate investment trust’s stock valued at $1,891,000 after purchasing an additional 12,456 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial decreased their price target on Acadia Realty Trust from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday. 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. Based on data from MarketBeat, Acadia Realty Trust has an average rating of “Hold” and a consensus price target of $22.00.

Insider Transactions at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Acadia Realty Trust Price Performance

Shares of AKR opened at $20.71 on Wednesday. The company has a market cap of $2.48 billion, a P/E ratio of 115.06, a PEG ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average price is $22.57 and its 200 day moving average price is $23.55.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping 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%. On average, research analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 444.44%.

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.