Citigroup Has Lowered Expectations for Acadia Realty Trust (NYSE:AKR) Stock Price

Acadia Realty Trust (NYSE:AKR) had its price target decreased by equities researchers at Citigroup from $26.00 to $24.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup‘s price target points to a potential upside of 20.10% from the company’s previous close.

Several other equities research analysts have also issued reports on AKR. Weiss Ratings lowered shares of Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. Truist Financial assumed coverage on Acadia Realty Trust in a research note on Thursday, October 1st. They set a “buy” rating and a $22.00 price objective for the company. KeyCorp reissued an “overweight” rating on shares of Acadia Realty Trust in a report on Wednesday, September 23rd. Finally, Wall Street Zen downgraded shares of Acadia Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Acadia Realty Trust has an average rating of “Moderate Buy” and an average target price of $23.40.

Acadia Realty Trust Stock Performance

NYSE:AKR traded up $0.18 during mid-day trading on Monday, hitting $19.98. 335,131 shares of the company’s stock traded hands, compared to its average volume of 1,343,080. The firm has a 50 day moving average of $19.18 and a two-hundred day moving average of $20.58. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 71.29, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.68. Acadia Realty Trust has a 12 month low of $17.96 and a 12 month high of $23.03.

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

Institutional Investors Weigh In On Acadia Realty Trust

A number of large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC increased its holdings in Acadia Realty Trust by 145.1% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 969 shares in the last quarter. Nykredit A S bought a new position in Acadia Realty Trust in the 2nd quarter valued at $47,000. AlTi Global Inc. bought a new position in Acadia Realty Trust in the 3rd quarter valued at $56,000. Pinnacle Wealth Planning Services Inc. boosted its stake in Acadia Realty Trust by 49.0% in 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 purchasing an additional 1,326 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Acadia Realty Trust by 367.4% in the third quarter. Signaturefd LLC now owns 4,235 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 3,329 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust that owns, operates and invests in retail properties. Its portfolio includes shopping centers and urban street-retail properties, with tenants spanning a range of retail and service businesses.

The company focuses on high-barrier-to-entry markets in the United States, including major metropolitan areas. It combines a portfolio of directly owned properties with investment funds through which it partners on additional real estate investments.

Acadia Realty Trust is headquartered in Rye, New York, and is led by President and Chief Executive Officer Kenneth F.