Acadia Realty Trust (NYSE:AKR) Sets New 1-Year High at $17.90

Shares of Acadia Realty Trust (NYSE:AKR) hit a new 52-week high on Tuesday . The company traded as high as $17.90 and last traded at $17.09, with a volume of 209793 shares. The stock had previously closed at $17.60.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AKR shares. Truist Financial downgraded Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Tuesday, January 16th. Jefferies Financial Group raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the company from $15.00 to $20.00 in a report on Tuesday, January 2nd. Finally, Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $20.00 in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.50.

Acadia Realty Trust Price Performance

The company’s 50 day simple moving average is $16.73 and its 200-day simple moving average is $16.23. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 92.66, a PEG ratio of 11.56 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, April 29th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a return on equity of 0.91% and a net margin of 5.72%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio is currently 378.97%.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of AKR. Federated Hermes Inc. increased its stake in 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 worth $47,000 after acquiring an additional 2,152 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Acadia Realty Trust during the 1st quarter worth approximately $58,000. GAMMA Investing LLC purchased a new position in Acadia Realty Trust in the fourth quarter valued at approximately $61,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Acadia Realty Trust during the fourth quarter worth approximately $174,000. Finally, Jump Financial LLC acquired a new position in shares of Acadia Realty Trust during the 3rd quarter valued at $185,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Company 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.