Acadia Realty Trust (NYSE:AKR) Receives $19.40 Average Price Target from Analysts

Acadia Realty Trust (NYSE:AKR) has been given a consensus rating of “Hold” by the five brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $20.80.

AKR has been the topic of a number of recent analyst reports. Compass Point increased their target price on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a research report on Wednesday, June 26th. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th.

Institutional Trading of Acadia Realty Trust

Several hedge funds have recently made changes to their positions in AKR. Vanguard Group Inc. lifted its stake in shares of 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 worth $283,775,000 after acquiring an additional 1,192,138 shares during the period. Easterly Investment Partners LLC acquired a new stake in shares of Acadia Realty Trust in the 1st quarter worth $18,139,000. APG Asset Management US Inc. acquired a new stake in shares of Acadia Realty Trust in the 2nd quarter worth $18,070,000. Cohen & Steers Inc. lifted its stake in shares of Acadia Realty Trust by 5.2% in the 4th quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares during the period. Finally, Norges Bank acquired a new stake in shares of Acadia Realty Trust in the 4th quarter worth $10,414,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $22.52 on Monday. The firm has a market cap of $2.32 billion, a PE ratio of 281.50, a price-to-earnings-growth ratio of 5.77 and a beta of 1.47. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $23.29. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $21.04 and its two-hundred day moving average is $18.39.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) 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 analyst estimates of $70.16 million. During the same quarter last year, the company earned $0.36 earnings per share. Acadia Realty Trust’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts expect that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.19 per share. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 950.00%.

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.