Acadia Realty Trust (NYSE:AKR) Short Interest Down 6.7% in September

Acadia Realty Trust (NYSE:AKR) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 2,640,000 shares, a decrease of 6.7% from the August 31st total of 2,830,000 shares. Based on an average daily volume of 828,100 shares, the short-interest ratio is currently 3.2 days.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. Dimensional Fund Advisors LP raised its position in Acadia Realty Trust by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,361,088 shares of the real estate investment trust’s stock worth $23,126,000 after purchasing an additional 16,812 shares during the period. Norges Bank purchased a new stake in Acadia Realty Trust in the 4th quarter worth about $10,414,000. US Bancorp DE raised its position in Acadia Realty Trust by 3,537.2% in the 4th quarter. US Bancorp DE now owns 35,936 shares of the real estate investment trust’s stock worth $611,000 after purchasing an additional 34,948 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Acadia Realty Trust by 4.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 113,776 shares of the real estate investment trust’s stock worth $1,933,000 after purchasing an additional 4,800 shares during the period. Finally, Cohen & Steers Inc. increased its position in shares of Acadia Realty Trust by 5.2% during the fourth 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. 97.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AKR. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Compass Point increased their price objective on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Truist Financial increased their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.80.

Acadia Realty Trust Trading Down 1.1 %

Shares of NYSE:AKR traded down $0.25 during trading on Tuesday, reaching $23.23. The company’s stock had a trading volume of 1,638,817 shares, compared to its average volume of 983,346. The company has a current ratio of 1.08, a quick 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 $23.56. The firm’s 50 day simple moving average is $22.01 and its two-hundred day simple moving average is $18.99. The stock has a market capitalization of $2.40 billion, a PE ratio of 290.13, a price-to-earnings-growth ratio of 5.98 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly 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). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The business had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. During the same period in the previous year, the business posted $0.36 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. On average, research analysts predict that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.19 dividend. This is a positive change 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 3.27%. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio is 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.