Acadia Realty Trust (NYSE:AKR) Receives Average Recommendation of “Moderate Buy” from Analysts

Acadia Realty Trust (NYSE:AKR) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $21.60.

A number of research analysts have issued reports on the company. Truist Financial boosted their target price 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. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th.

Institutional Trading of Acadia Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in 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 last quarter. USA Financial Formulas acquired a new position 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 buying an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Acadia Realty Trust in the 2nd quarter valued at about $103,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of Acadia Realty Trust by 8.0% in the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 740 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $25.85 on Friday. The firm’s 50 day simple moving average is $24.22 and its 200 day simple moving average is $21.21. Acadia Realty Trust has a fifty-two week low of $14.74 and a fifty-two week high of $26.29. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 287.22, a P/E/G ratio of 6.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKR) last posted its 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). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same quarter last year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

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.