Acadia Realty Trust (NYSE:AKR) Given New $23.00 Price Target at Truist Financial

Acadia Realty Trust (NYSE:AKR) had its target price dropped by equities research analysts at Truist Financial from $25.00 to $23.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 9.76% from the stock’s previous close.

Separately, StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.00.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $20.96 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. Acadia Realty Trust has a one year low of $16.14 and a one year high of $26.29. The company has a market capitalization of $2.51 billion, a PE ratio of 116.42, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49. The stock has a fifty day moving average of $22.61 and a 200-day moving average of $23.57.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jason Blacksberg sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Acadia Realty Trust by 91.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 717 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Acadia Realty Trust during the 4th quarter worth approximately $46,000. Sterling Capital Management LLC increased its holdings in Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 3,344 shares during the last quarter. USA Financial Formulas boosted its position in shares of Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 489 shares in the last quarter. Finally, KBC Group NV grew its stake in Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 1,448 shares during the period. 97.65% of the stock is owned by institutional investors.

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.