Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 8,260,000 shares, an increase of 35.0% from the November 15th total of 6,120,000 shares. Based on an average trading volume of 1,110,000 shares, the days-to-cover ratio is presently 7.4 days.

Analyst Ratings Changes

A number of research firms recently weighed in on AKR. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Truist Financial upped their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Acadia Realty Trust presently has an average rating of “Hold” and an average target price of $22.40.

Acadia Realty Trust Stock Up 0.6 %

Shares of AKR stock traded up $0.15 during mid-day trading on Friday, hitting $25.35. 1,317,591 shares of the stock traded hands, compared to its average volume of 1,027,089. The stock has a market cap of $3.03 billion, a P/E ratio of 281.67, a P/E/G ratio of 6.32 and a beta of 1.46. The stock’s fifty day moving average is $24.73 and its two-hundred day moving average is $21.85. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results 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). The firm had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Equities analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Institutional Trading of Acadia Realty Trust

Several hedge funds have recently modified their holdings of AKR. USA Financial Formulas acquired a new position in shares of Acadia Realty Trust during the third quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,039 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Acadia Realty Trust during the second quarter valued at about $103,000. Custom Index Systems LLC acquired a new position in shares of Acadia Realty Trust during the third quarter valued at about $202,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Acadia Realty Trust during the third quarter valued at about $202,000. 97.65% of the stock is owned by hedge funds and other 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.