Acadia Realty Trust (NYSE:AKR) Lowered to “Sell” at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of Acadia Realty Trust (NYSE:AKR – Free Report) from a hold rating to a sell rating in a report issued on Monday.

Several other research firms have also issued reports on AKR. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Wednesday, June 26th. Truist Financial increased their target price 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. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.60.

Read Our Latest Analysis on AKR

Acadia Realty Trust Price Performance

Shares of AKR stock opened at $24.65 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $24.73. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 308.13, a PEG ratio of 6.04 and a beta of 1.47. The stock has a 50-day moving average price of $22.60 and a 200 day moving average price of $19.54.

Acadia Realty Trust (NYSE:AKR – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.08%. Acadia Realty Trust’s payout ratio is currently 950.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Acadia Realty Trust by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after acquiring an additional 1,192,138 shares in the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Acadia Realty Trust in the 1st quarter valued at about $18,139,000. APG Asset Management US Inc. bought a new stake in shares of Acadia Realty Trust in the second quarter valued at about $18,070,000. Price T Rowe Associates Inc. MD boosted its position in shares of Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after buying an additional 388,067 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Acadia Realty Trust during the second quarter worth about $5,090,000. Institutional investors own 97.65% of the company’s stock.

About Acadia Realty Trust

(Get Free Report)

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.

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