Acadia Realty Trust (NYSE:AKR) Short Interest Up 233.6% in October

by · The Markets Daily

Acadia Realty Trust (NYSE:AKR – Get Free Report) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 8,340,000 shares, an increase of 233.6% from the September 30th total of 2,500,000 shares. Based on an average daily volume of 895,700 shares, the days-to-cover ratio is currently 9.3 days.

Institutional Trading of Acadia Realty Trust

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Acadia Realty Trust during the 1st quarter worth about $18,139,000. APG Asset Management US Inc. acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter worth about $18,070,000. Price T Rowe Associates Inc. MD increased 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 worth $150,511,000 after purchasing an additional 388,067 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter worth about $5,090,000. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Down 1.1 %

Acadia Realty Trust stock traded down $0.26 during trading hours on Friday, hitting $24.01. The company had a trading volume of 562,601 shares, compared to its average volume of 980,706. The firm has a market capitalization of $2.48 billion, a P/E ratio of 300.13, a price-to-earnings-growth ratio of 6.30 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average is $23.00 and its 200-day moving average is $19.90. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $24.75.

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

Acadia Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.17%. Acadia Realty Trust’s dividend payout ratio is 950.00%.

Analysts Set New Price Targets

AKR has been the topic of several recent research reports. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.60.

View Our Latest Analysis on AKR

Acadia Realty Trust Company Profile

(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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