Acadia Realty Trust (AKR) – What Are Investment Firms Saying About This Stock?

Acadia Realty Trust (NYSE:AKR) has been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $23.80.

Several brokerages have recently issued reports on AKR. Truist Financial started coverage on shares of Acadia Realty Trust in a research report on Thursday, October 1st. They set a “buy” rating and a $22.00 price target on the stock. Wall Street Zen downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings cut Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Citigroup boosted their price target on Acadia Realty Trust from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $19.77 on Friday. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 70.62, a P/E/G ratio of 2.11 and a beta of 1.11. The firm’s 50 day simple moving average is $19.18 and its 200 day simple moving average is $20.58. The company has a current ratio of 1.23, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Acadia Realty Trust has a 1 year low of $17.96 and a 1 year high of $23.03.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.34). Acadia Realty Trust had a net margin of 10.23% and a return on equity of 1.54%. The business had revenue of $94.98 million during the quarter, compared to the consensus estimate of $94.38 million. During the same period last year, the firm earned $0.03 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts expect that Acadia Realty Trust will post 1.25 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 31st. Acadia Realty Trust’s dividend payout ratio is presently 285.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC increased its stake in shares of Acadia Realty Trust by 145.1% in the third quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 969 shares during the last quarter. Nykredit A S bought a new stake in Acadia Realty Trust in the second quarter valued at about $47,000. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Acadia Realty Trust by 49.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,032 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 1,326 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Acadia Realty Trust by 367.4% during the third quarter. Signaturefd LLC now owns 4,235 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 3,329 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Acadia Realty Trust during the second quarter valued at about $293,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.