Acadia Realty Trust (NYSE:AKR) Hits New 52-Week High – Here’s Why

Acadia Realty Trust (NYSE:AKR) reached a new 52-week high on Monday . The stock traded as high as $25.61 and last traded at $25.57, with a volume of 185609 shares traded. The stock had previously closed at $25.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Price Performance

The firm has a market cap of $3.12 billion, a PE ratio of 289.44, a price-to-earnings-growth ratio of 6.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50-day simple moving average of $24.08 and a 200 day simple moving average of $21.14.

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

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 572 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust during the third quarter valued at approximately $80,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Acadia Realty Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new position in Acadia Realty Trust in the 2nd quarter valued at approximately $103,000. Finally, Algert Global LLC purchased a new stake in Acadia Realty Trust during the 2nd quarter valued at $186,000. 97.65% of the stock is owned by 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.