Acadia Realty Trust (NYSE:AKR) Price Target Increased to $23.00 by Analysts at Truist Financial

Acadia Realty Trust (NYSE:AKR) had its price target lifted by Truist Financial from $18.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on AKR. StockNews.com cut Acadia Realty Trust from a hold rating to a sell rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 target price on the stock in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $19.40.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $22.39 on Wednesday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 279.81, a P/E/G ratio of 5.71 and a beta of 1.46. The company’s fifty day moving average price is $20.08 and its 200 day moving average price is $17.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.90 and a current ratio of 1.08. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $22.69.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The company had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 950.00%.

Institutional Trading of Acadia Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Acadia Realty Trust by 6.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,187 shares of the real estate investment trust’s stock valued at $700,000 after purchasing an additional 2,595 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Acadia Realty Trust by 113.1% in the fourth quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 3,715 shares in the last quarter. GAMMA Investing LLC acquired a new position in Acadia Realty Trust during the fourth quarter worth $61,000. Van ECK Associates Corp raised its position in Acadia Realty Trust by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 13,098 shares of the real estate investment trust’s stock worth $223,000 after acquiring an additional 2,154 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Acadia Realty Trust by 12.9% in the fourth quarter. Victory Capital Management Inc. now owns 78,797 shares of the real estate investment trust’s stock valued at $1,339,000 after acquiring an additional 9,028 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.