Acadia Realty Trust (NYSE:AKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

AKR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target for the company in a research report on Wednesday, June 26th. Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $27.00 in a report on Thursday.

Institutional Trading of Acadia Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of AKR. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Acadia Realty Trust during the first quarter valued at about $58,000. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust in the third quarter worth about $80,000. SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust in the 2nd quarter valued at about $103,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in Acadia Realty Trust by 8.0% during 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 acquiring an additional 740 shares during the period. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Trading Up 0.4 %

NYSE:AKR opened at $23.32 on Friday. The company has a market cap of $2.46 billion, a P/E ratio of 19.51, a P/E/G ratio of 6.04 and a beta of 1.47. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $23.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average price is $22.37 and its two-hundred day moving average price is $19.32.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results 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 return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th.

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.