Acadia Realty Trust (NYSE:AKR) Lowered to “Sell” at Zacks Investment Research

Acadia Realty Trust (NYSE:AKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

Separately, Compass Point began coverage on shares of Acadia Realty Trust in a research note on Thursday, August 15th. They issued a “buy” rating and a $30.00 price objective for the company.

Acadia Realty Trust stock traded down $0.05 during trading hours on Tuesday, hitting $26.36. The company had a trading volume of 436,326 shares, compared to its average volume of 458,592. The firm has a market cap of $2.34 billion, a PE ratio of 19.53, a PEG ratio of 3.64 and a beta of 0.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.53 and a quick ratio of 0.53. Acadia Realty Trust has a one year low of $23.11 and a one year high of $29.82. The firm has a 50-day moving average of $27.82 and a 200 day moving average of $27.94.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.21). Acadia Realty Trust had a return on equity of 1.82% and a net margin of 13.42%. The firm had revenue of $72.19 million for the quarter, compared to the consensus estimate of $61.66 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 41.5% on a year-over-year basis. As a group, research analysts expect that Acadia Realty Trust will post 1.42 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new position in shares of Acadia Realty Trust during the 3rd quarter worth approximately $991,000. Squarepoint Ops LLC increased its holdings in Acadia Realty Trust by 103.4% during the third quarter. Squarepoint Ops LLC now owns 28,869 shares of the real estate investment trust’s stock valued at $825,000 after buying an additional 14,676 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in Acadia Realty Trust by 119.5% during the third quarter. Voloridge Investment Management LLC now owns 22,978 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 12,511 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Acadia Realty Trust by 1.5% in the third quarter. Public Employees Retirement System of Ohio now owns 89,991 shares of the real estate investment trust’s stock worth $2,572,000 after acquiring an additional 1,318 shares during the period. Finally, Phocas Financial Corp. bought a new position in Acadia Realty Trust in the third quarter worth approximately $13,146,000.

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 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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