Acadia Realty Trust (NYSE:AKR) Given New $27.00 Price Target at Truist Financial

Acadia Realty Trust (NYSE:AKR) had its price objective upped by Truist Financial from $23.00 to $27.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on AKR. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.40.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock opened at $25.51 on Thursday. The firm has a market capitalization of $3.05 billion, a PE ratio of 283.44, a price-to-earnings-growth ratio of 6.44 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 12 month low of $15.48 and a 12 month high of $26.29. The business’s 50-day moving average price is $24.52 and its 200-day moving average price is $21.59.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Sell-side analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Acadia Realty Trust by 32.7% in the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 572 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust during the 3rd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 1,039 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Acadia Realty Trust in the second quarter worth about $103,000. Finally, Custom Index Systems LLC bought a new stake in Acadia Realty Trust during the 3rd quarter valued at approximately $202,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.