Acadia Realty Trust (NYSE:AKR) Receives Average Recommendation of “Hold” from Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have earned an average rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.80.

Several analysts recently commented on AKR shares. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target for the company in a research report on Wednesday, June 26th. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Truist Financial boosted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, 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.

Acadia Realty Trust Stock Down 0.4 %

Acadia Realty Trust stock opened at $22.71 on Friday. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $23.56. The stock has a market capitalization of $2.34 billion, a PE ratio of 283.88, a price-to-earnings-growth ratio of 5.98 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 business has a 50 day simple moving average of $22.12 and a 200-day simple moving average of $19.07.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate 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 company had revenue of $87.25 million during the quarter, compared to analysts’ expectations of $70.16 million. During the same period in the previous year, the firm posted $0.36 EPS. Acadia Realty Trust’s revenue was down 3.0% compared to the same quarter last year. On average, analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. The ex-dividend date is 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 3.35%. Acadia Realty Trust’s payout ratio is 950.00%.

Institutional Trading of Acadia Realty Trust

Several hedge funds have recently made changes to their positions in AKR. SG Americas Securities LLC lifted its holdings in Acadia Realty Trust by 422.8% in the third quarter. SG Americas Securities LLC now owns 30,056 shares of the real estate investment trust’s stock valued at $706,000 after acquiring an additional 24,307 shares during the last quarter. Algert Global LLC purchased a new stake in Acadia Realty Trust in the second quarter valued at $186,000. Susquehanna Fundamental Investments LLC lifted its stake in shares of Acadia Realty Trust by 250.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,098 shares of the real estate investment trust’s stock valued at $1,597,000 after purchasing an additional 63,671 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Acadia Realty Trust by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,697 shares of the real estate investment trust’s stock worth $944,000 after purchasing an additional 4,810 shares during the period. Finally, APG Asset Management US Inc. acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter worth about $18,070,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.