Acadia Realty Trust (NYSE:AKR) Reaches New 12-Month High at $17.90

Acadia Realty Trust (NYSE:AKR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.90 and last traded at $17.09, with a volume of 209793 shares trading hands. The stock had previously closed at $17.60.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AKR shares. Truist Financial lowered Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Tuesday, January 16th. Jefferies Financial Group raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $20.00 in a research note on Tuesday, January 2nd. Finally, Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Acadia Realty Trust Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day moving average price is $16.73 and its two-hundred day moving average price is $16.23. The stock has a market capitalization of $1.79 billion, a PE ratio of 92.66, a P/E/G ratio of 11.56 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, April 29th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.27). The company had revenue of $91.36 million during the quarter, compared to the consensus estimate of $69.75 million. Acadia Realty Trust had a return on equity of 0.91% and a net margin of 5.72%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. As a group, analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Wednesday, March 27th. Acadia Realty Trust’s payout ratio is currently 378.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. Federated Hermes Inc. increased its holdings in Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 2,152 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust in the 1st quarter worth $58,000. GAMMA Investing LLC bought a new position in Acadia Realty Trust in the 4th quarter worth $61,000. Vanguard Personalized Indexing Management LLC bought a new stake in Acadia Realty Trust during the fourth quarter valued at about $174,000. Finally, Jump Financial LLC purchased a new stake in Acadia Realty Trust in the third quarter worth about $185,000. 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.