Acadia Realty Trust (NYSE:AKR) Receives $21.60 Consensus Price Target from Brokerages

Acadia Realty Trust (NYSE:AKR) has received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.60.

A number of brokerages recently issued reports on AKR. Truist Financial boosted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.00 to $27.00 in a research report on Thursday, October 10th.

Hedge Funds Weigh In On Acadia Realty Trust

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Acadia Realty Trust by 7.7% in the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. FMR LLC increased its holdings in shares of Acadia Realty Trust by 290.3% in the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock worth $224,910,000 after buying an additional 7,124,403 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Acadia Realty Trust by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after buying an additional 388,067 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after acquiring an additional 63,672 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Acadia Realty Trust by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust’s stock worth $45,331,000 after acquiring an additional 83,180 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Up 1.8 %

AKR stock opened at $26.08 on Friday. The business’s 50-day moving average is $24.08 and its two-hundred day moving average is $21.14. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 289.44, a P/E/G ratio of 6.47 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $14.74 and a fifty-two week high of $26.16. 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 announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

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.