Brokerages Set Acadia Realty Trust (NYSE:AKR) PT at $22.40

Acadia Realty Trust (NYSE:AKR) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $22.40.

Several equities research analysts have recently issued reports on AKR shares. Truist Financial raised their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd.

Acadia Realty Trust Trading Down 0.3 %

AKR opened at $23.89 on Wednesday. The stock has a 50-day moving average of $24.86 and a 200 day moving average of $22.07. 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 $16.09 and a 12 month high of $26.29. The firm has a market cap of $2.86 billion, a P/E ratio of 265.44, a P/E/G ratio of 6.32 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last announced its 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 company had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. Acadia Realty Trust’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. As a group, research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.18%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Institutional Trading of Acadia Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of AKR. USA Financial Formulas purchased a new stake in Acadia Realty Trust in the third quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Acadia Realty Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 1,039 shares in the last quarter. SG Americas Securities LLC bought a new stake in Acadia Realty Trust during the second quarter valued at about $103,000. Algert Global LLC purchased a new position in Acadia Realty Trust in the second quarter valued at about $186,000. Finally, Custom Index Systems LLC purchased a new position in Acadia Realty Trust in the third quarter valued at about $202,000. 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.