Acadia Realty Trust (NYSE:AKR) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other research firms also recently commented on AKR. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial lifted their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust Trading Up 1.2 %

AKR stock opened at $24.89 on Friday. The company has a market capitalization of $2.98 billion, a PE ratio of 276.56, a price-to-earnings-growth ratio of 6.22 and a beta of 1.46. Acadia Realty Trust has a one year low of $14.62 and a one year high of $25.58. The company’s 50 day moving average price is $23.79 and its two-hundred day moving average price is $20.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14.

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

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is currently 844.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AKR. GAMMA Investing LLC increased its position in Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 572 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Acadia Realty Trust during the 1st quarter valued at $58,000. USA Financial Formulas purchased a new position in Acadia Realty Trust during the 3rd quarter valued at $80,000. Mirae Asset Global Investments Co. Ltd. increased its position in Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust during the 2nd quarter valued at $103,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.