Acadia Realty Trust (NYSE:AKR) Reaches New 1-Year High – Here’s What Happened

Acadia Realty Trust (NYSE:AKR)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.61 and last traded at $25.57, with a volume of 185609 shares traded. The stock had previously closed at $25.22.

Analyst Upgrades and Downgrades

AKR has been the topic of a number of recent analyst reports. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial boosted 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Stock Up 1.5 %

The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 283.56, a price-to-earnings-growth ratio of 6.37 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. The firm has a 50-day moving average of $23.97 and a two-hundred day moving average of $21.02.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share 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 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 firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 2.97%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AKR. GAMMA Investing LLC grew its stake in Acadia Realty Trust by 32.7% in the second 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 bought a new stake in shares of Acadia Realty Trust during the 3rd quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 worth $93,000 after acquiring an additional 1,039 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust during the 2nd quarter worth about $103,000. Finally, Algert Global LLC bought a new stake in shares of Acadia Realty Trust during the 2nd quarter worth about $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.