Acadia Realty Trust (NYSE:AKR) Given Average Rating of “Moderate Buy” by Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have earned an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.60.

A number of analysts have weighed in on the company. Truist Financial lifted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Compass Point upgraded shares of 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 research note on Thursday, October 10th.

Acadia Realty Trust Trading Up 1.8 %

Shares of AKR opened at $26.08 on Friday. Acadia Realty Trust has a twelve month low of $14.74 and a twelve month high of $26.16. 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 company’s fifty day simple moving average is $24.08 and its 200-day simple moving average is $21.14. The company has a market cap of $3.12 billion, a P/E ratio of 289.44, a P/E/G ratio of 6.47 and a beta of 1.46.

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). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.91%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position 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 acquiring an additional 572 shares in the last quarter. USA Financial Formulas bought a new position in Acadia Realty Trust in the third quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Acadia Realty Trust by 35.0% during the third 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 buying an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust in the 2nd quarter valued at about $103,000. Finally, Custom Index Systems LLC purchased a new position in shares of Acadia Realty Trust in the 3rd quarter worth approximately $202,000. Institutional investors own 97.65% of the company’s stock.

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.