Acadia Realty Trust (NYSE:AKR) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a research report released on Thursday.

AKR has been the subject of several other reports. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. Bank of America upgraded shares of Acadia Realty Trust from a neutral rating to a buy rating and boosted their target price for the company from $18.00 to $20.00 in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $18.40.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $21.48 on Thursday. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $22.51. The business’s fifty day simple moving average is $18.43 and its two-hundred day simple moving average is $17.42. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 268.50, a P/E/G ratio of 5.71 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The business had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same period last year, the business earned $0.36 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio is currently 950.00%.

Institutional Investors Weigh In On Acadia Realty Trust

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 572 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Acadia Realty Trust during the first quarter valued at approximately $58,000. SG Americas Securities LLC bought a new position in shares of Acadia Realty Trust in the second quarter worth approximately $103,000. Federated Hermes Inc. increased its stake in shares of Acadia Realty Trust by 113.1% in the fourth quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 3,715 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Acadia Realty Trust by 8.0% in the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 740 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

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.