StockNews.com Downgrades Acadia Realty Trust (NYSE:AKR) to Sell

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

Several other brokerages have also recently weighed in on AKR. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 target price for the company in a report on Wednesday, June 26th. Compass Point upped their price objective on Acadia Realty Trust from $22.00 to $23.00 and gave the stock a neutral rating in a research note on Tuesday, September 10th. Finally, Truist Financial upped their price objective 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 analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $20.80.

Acadia Realty Trust Price Performance

AKR stock opened at $23.00 on Friday. The firm has a 50 day moving average price of $21.69 and a 200-day moving average price of $18.76. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $23.29. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 287.50, a PEG ratio of 5.85 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The business had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. Equities research analysts forecast that Acadia Realty Trust will post 1.29 EPS 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. Stockholders of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.30%. Acadia Realty Trust’s dividend payout ratio (DPR) is 950.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised 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 worth $42,000 after buying an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Acadia Realty Trust in the 1st quarter valued at about $58,000. SG Americas Securities LLC acquired a new position in Acadia Realty Trust in the 2nd quarter valued at about $103,000. Ameritas Investment Partners Inc. raised its stake in Acadia Realty Trust by 8.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 740 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Acadia Realty Trust in the 4th quarter valued at about $174,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

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.