Acadia Realty Trust (NYSE:AKR) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

AKR has been the topic of a number of other research reports. Truist Financial upped their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Trading Down 1.0 %

Shares of AKR stock opened at $24.35 on Tuesday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 304.38, a price-to-earnings-growth ratio of 6.30 and a beta of 1.47. The stock’s 50-day moving average price is $23.13 and its 200-day moving average price is $20.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $24.75.

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 business had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities research analysts predict that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AKR. GAMMA Investing LLC increased its stake in Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 572 shares in the last quarter. USA Financial Formulas acquired a new stake in Acadia Realty Trust during the 3rd quarter worth about $80,000. Allspring Global Investments Holdings LLC purchased a new stake in Acadia Realty Trust during the 1st quarter valued at about $58,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 buying an additional 1,039 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Acadia Realty Trust during the second quarter worth $103,000. 97.65% of the stock is owned by institutional investors and hedge funds.

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.