Acadia Realty Trust (NYSE:AKR) Rating Lowered to “Sell” at StockNews.com

Acadia Realty Trust (NYSE:AKR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

AKR has been the subject of several other reports. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial raised their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.60.

Acadia Realty Trust Stock Down 0.9 %

NYSE AKR traded down $0.22 during trading on Monday, reaching $25.63. 1,424,008 shares of the company’s stock were exchanged, compared to its average volume of 1,018,918. The firm has a market capitalization of $3.07 billion, a PE ratio of 284.78, a P/E/G ratio of 6.53 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $15.48 and a fifty-two week high of $26.29. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $24.28 and its 200-day simple moving average is $21.32.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Acadia Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Acadia Realty Trust by 32.7% in the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 572 shares during the last quarter. USA Financial Formulas bought a new stake in Acadia Realty Trust during the third quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,039 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Acadia Realty Trust in the second quarter valued at about $103,000. Finally, Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust in the third quarter worth about $202,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.

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.