Short Interest in Acadia Realty Trust (NYSE:AKR) Grows By 10.1%

Acadia Realty Trust (NYSE:AKR) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,370,000 shares, an increase of 10.1% from the March 31st total of 3,060,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 2.9 days.

Institutional Trading of Acadia Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capstone Investment Advisors LLC purchased a new stake in shares of Acadia Realty Trust during the first quarter worth about $260,000. BNP Paribas Financial Markets increased its stake in shares of Acadia Realty Trust by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock worth $941,000 after purchasing an additional 24,609 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust during the first quarter worth about $58,000. Principal Financial Group Inc. increased its stake in shares of Acadia Realty Trust by 16.9% during the first quarter. Principal Financial Group Inc. now owns 580,469 shares of the real estate investment trust’s stock worth $9,874,000 after purchasing an additional 83,794 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Acadia Realty Trust by 6.3% during the first quarter. Louisiana State Employees Retirement System now owns 50,700 shares of the real estate investment trust’s stock worth $862,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Down 1.1 %

AKR opened at $17.09 on Thursday. Acadia Realty Trust has a fifty-two week low of $12.37 and a fifty-two week high of $17.90. 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 company has a fifty day moving average of $16.75 and a two-hundred day moving average of $16.25. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 216.25, a PEG ratio of 11.75 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the previous year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.18 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a yield of 4.21%. Acadia Realty Trust’s payout ratio is 900.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AKR. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th. Truist Financial cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

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.