TheStreet Upgrades Acadia Realty Trust (NYSE:AKR) to “C-“


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TheStreet upgraded shares of Acadia Realty Trust (NYSE:AKR) from a d rating to a c- rating in a research report report published on Friday morning, TheStreetRatingsTable reports.

AKR has been the subject of several other research reports. Truist increased their price target on Acadia Realty Trust from $15.00 to $20.00 in a research note on Friday, March 5th. Jefferies Financial Group upgraded Acadia Realty Trust from a hold rating to a buy rating and upped their target price for the company from $14.00 to $17.00 in a research report on Wednesday, January 13th. Zacks Investment Research upgraded Acadia Realty Trust from a sell rating to a hold rating in a research report on Wednesday, March 24th. Finally, Bank of America lowered Acadia Realty Trust from a buy rating to a neutral rating in a research report on Tuesday, January 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Acadia Realty Trust currently has an average rating of Hold and an average price target of $15.63.

Shares of AKR opened at $21.25 on Friday. Acadia Realty Trust has a 12-month low of $9.10 and a 12-month high of $21.82. The business has a 50-day simple moving average of $20.08 and a two-hundred day simple moving average of $16.10. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.83 billion, a PE ratio of 81.73, a PEG ratio of 12.33 and a beta of 1.38.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.18. Acadia Realty Trust had a return on equity of 1.10% and a net margin of 8.72%. On average, equities research analysts expect that Acadia Realty Trust will post 1.04 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.82%. Acadia Realty Trust’s dividend payout ratio (DPR) is 42.55%.

In other news, VP Joseph Napolitano sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $20.60, for a total value of $103,000.00. Following the sale, the vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $61,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wendy W. Luscombe sold 1,523 shares of the business’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $19.90, for a total value of $30,307.70. Following the completion of the sale, the director now directly owns 35,494 shares in the company, valued at $706,330.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,523 shares of company stock worth $154,218 in the last quarter. Company insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AKR. First Trust Advisors LP boosted its position in shares of Acadia Realty Trust by 53.0% in the 1st quarter. First Trust Advisors LP now owns 75,406 shares of the real estate investment trust’s stock worth $2,056,000 after purchasing an additional 26,111 shares in the last quarter. Sei Investments Co. boosted its position in shares of Acadia Realty Trust by 13.7% in the 3rd quarter. Sei Investments Co. now owns 508,852 shares of the real estate investment trust’s stock worth $5,343,000 after purchasing an additional 61,400 shares in the last quarter. Nachman Norwood & Parrott Inc boosted its position in shares of Acadia Realty Trust by 5.8% in the 4th quarter. Nachman Norwood & Parrott Inc now owns 18,236 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 1,000 shares in the last quarter. Pendal Group Limited boosted its position in shares of Acadia Realty Trust by 10.9% in the 4th quarter. Pendal Group Limited now owns 83,657 shares of the real estate investment trust’s stock worth $1,187,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Acadia Realty Trust by 9.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 63,404 shares of the real estate investment trust’s stock valued at $900,000 after acquiring an additional 5,630 shares in the last quarter. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

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 Â- Core Portfolio and Fund Â- 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.

Read More: Balanced Fund

Analyst Recommendations for Acadia Realty Trust (NYSE:AKR)

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