StockNews.com Upgrades Acadia Realty Trust (NYSE:AKR) to Hold

Acadia Realty Trust (NYSE:AKR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other analysts have also issued reports on the company. Truist Financial upped their price objective 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 increased their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Trading Up 0.5 %

Shares of Acadia Realty Trust stock opened at $24.60 on Friday. The stock has a market cap of $2.94 billion, a P/E ratio of 273.33, a P/E/G ratio of 6.22 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 12-month low of $14.62 and a 12-month high of $25.58. The business’s 50 day moving average is $23.74 and its 200-day moving average is $20.74.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly 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 firm had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Equities research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 572 shares during the period. USA Financial Formulas bought a new position in Acadia Realty Trust during the 3rd quarter worth $80,000. Allspring Global Investments Holdings LLC acquired a new position in Acadia Realty Trust in the 1st quarter valued at $58,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,039 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter worth $103,000. 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.