Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 10,180,000 shares, an increase of 23.2% from the November 30th total of 8,260,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 7.6 days.

Analysts Set New Price Targets

A number of analysts recently commented on AKR shares. Truist Financial upped their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.40.

Hedge Funds Weigh In On Acadia Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Acadia Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock worth $21,090,000 after buying an additional 8,739 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Acadia Realty Trust by 70.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,095 shares of the real estate investment trust’s stock valued at $1,256,000 after purchasing an additional 28,908 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Acadia Realty Trust by 39.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,375 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 5,722 shares during the last quarter. Van ECK Associates Corp raised its position in Acadia Realty Trust by 7.3% in the 2nd quarter. Van ECK Associates Corp now owns 15,459 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 1,054 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Acadia Realty Trust by 22.7% in the second quarter. Natixis Advisors LLC now owns 27,321 shares of the real estate investment trust’s stock worth $490,000 after purchasing an additional 5,048 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Price Performance

Shares of AKR traded up $0.22 during trading hours on Tuesday, reaching $24.02. 144,497 shares of the company’s stock traded hands, compared to its average volume of 1,073,801. Acadia Realty Trust has a 12 month low of $16.09 and a 12 month high of $26.29. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.87 billion, a PE ratio of 266.89, a price-to-earnings-growth ratio of 6.41 and a beta of 1.46. The firm’s 50 day simple moving average is $24.83 and its 200-day simple moving average is $22.48.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). The company 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Equities analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.16%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.