Shares of Acadia Realty Trust (NYSE:AKR) have received an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $31.33.
A number of research analysts have commented on the company. Citigroup increased their price objective on Acadia Realty Trust from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. Zacks Investment Research lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. ValuEngine upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Finally, Bank of America increased their price objective on Acadia Realty Trust from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 17th.
In other news, insider Richard Hartmann sold 2,203 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $28.51, for a total value of $62,807.53. Following the transaction, the insider now directly owns 444 shares in the company, valued at approximately $12,658.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendy W. Luscombe sold 4,500 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $28.00, for a total value of $126,000.00. The disclosure for this sale can be found here. Insiders sold a total of 14,382 shares of company stock worth $406,839 over the last 90 days. 2.15% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB boosted its position in shares of Acadia Realty Trust by 13.8% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 15,632 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 1,900 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Acadia Realty Trust by 12.7% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,457 shares of the real estate investment trust’s stock worth $545,000 after purchasing an additional 2,198 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Acadia Realty Trust by 9.7% in the 2nd quarter. TD Asset Management Inc. now owns 24,900 shares of the real estate investment trust’s stock worth $682,000 after purchasing an additional 2,200 shares during the last quarter. US Bancorp DE boosted its position in shares of Acadia Realty Trust by 13.8% in the 2nd quarter. US Bancorp DE now owns 19,648 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 2,387 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Acadia Realty Trust by 7.4% in the 1st quarter. Russell Investments Group Ltd. now owns 54,772 shares of the real estate investment trust’s stock worth $1,347,000 after purchasing an additional 3,763 shares during the last quarter.
Shares of AKR opened at $28.84 on Wednesday. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 2.37 and a beta of 0.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. Acadia Realty Trust has a 52 week low of $21.34 and a 52 week high of $29.67.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.66 million. Acadia Realty Trust had a return on equity of 2.09% and a net margin of 17.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Analysts forecast that Acadia Realty Trust will post 1.38 EPS for the current year.
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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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