Acadia Realty Trust (NYSE:AKR) Sees Unusually-High Trading Volume

Shares of Acadia Realty Trust (NYSE:AKR) saw unusually-strong trading volume on Tuesday . Approximately 656,687 shares were traded during trading, a decline of 33% from the previous session’s volume of 977,775 shares.The stock last traded at $23.26 and had previously closed at $23.48.

Wall Street Analysts Forecast Growth

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

Acadia Realty Trust Trading Down 1.3 %

The firm has a market capitalization of $2.39 billion, a P/E ratio of 293.50, 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 quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50-day moving average of $22.01 and a 200-day moving average of $18.99.

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

Acadia Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 3.28%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is 950.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 572 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Acadia Realty Trust during the first quarter valued at approximately $58,000. SG Americas Securities LLC purchased a new position in shares of Acadia Realty Trust during the second quarter valued at approximately $103,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Acadia Realty Trust by 8.0% during the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 740 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Acadia Realty Trust during the second quarter valued at approximately $186,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.