Real estate investment trust Acadia Realty Trust (AKR) will raise its quarterly dividend by 3.6 percent to $0.29 per share. This marks the 7th consecutive year of dividend increases by the company.
The next dividend is payable on January 15, 2020 to holders of record as of December 31, 2019. A new annual rate of $1.16 per share yields 4.1% at a stock price of $28.
Acadia Realty Trust is an retail focused equity real estate investment trust (REIT). The company’s properties primarily consist of street and urban retail, and dense suburban shopping centers located along the East Coast and in Chicago. Acadia owns, or has an ownership interest in, these properties through its core portfolio and through a series of opportunistic/value-add investment funds.