Brokerages Set Acadia Realty Trust (NYSE:AKR) PT at $21.60

Shares of Acadia Realty Trust (NYSE:AKR) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.60.

Several research firms have commented on AKR. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial boosted their price target 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. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its position in shares of Acadia Realty Trust by 8.2% during the 1st quarter. Sei Investments Co. now owns 52,105 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 3,940 shares during the period. ProShare Advisors LLC lifted its position in Acadia Realty Trust by 15.4% during the first quarter. ProShare Advisors LLC now owns 20,293 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 2,701 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Acadia Realty Trust by 53.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 40,991 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 14,300 shares in the last quarter. Vanguard Group Inc. increased its holdings in Acadia Realty Trust by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after buying an additional 1,192,138 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position in shares of 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 buying an additional 740 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $25.85 on Friday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 287.22, a price-to-earnings-growth ratio of 6.59 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $24.22 and its two-hundred day moving average price is $21.21. Acadia Realty Trust has a 1 year low of $14.74 and a 1 year high of $26.29.

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

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.