StockNews.com Lowers Acadia Realty Trust (NYSE:AKR) to Sell

StockNews.com downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price target on the stock in a research note on Wednesday, June 26th. Truist Financial increased their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. Finally, Compass Point raised Acadia Realty Trust from a neutral rating to a buy rating and raised their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Acadia Realty Trust presently has a consensus rating of Hold and a consensus target price of $21.60.

Acadia Realty Trust Stock Up 0.9 %

AKR opened at $23.77 on Monday. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $23.84. The business has a 50 day moving average price of $22.47 and a two-hundred day moving average price of $19.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.45 billion, a PE ratio of 297.13, a P/E/G ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.30). The company had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. Acadia Realty Trust’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, research analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 950.00%.

Institutional Investors Weigh In On Acadia Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Acadia Realty Trust by 7.7% during the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Easterly Investment Partners LLC acquired a new position in shares of Acadia Realty Trust during the 1st quarter worth $18,139,000. APG Asset Management US Inc. purchased a new stake in shares of Acadia Realty Trust in the 2nd quarter worth about $18,070,000. Price T Rowe Associates Inc. MD grew its stake in Acadia Realty Trust by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after acquiring an additional 388,067 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Acadia Realty Trust during the 2nd quarter valued at about $5,090,000. Institutional investors and hedge funds 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.