Acadia Realty Trust (NYSE:AKR) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust (NYSE:AKR) from an underweight rating to a neutral rating in a report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $18.00 price objective on the real estate investment trust’s stock.

Separately, Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and increased their price target for the company from $18.00 to $20.00 in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Acadia Realty Trust has a consensus rating of Hold and an average target price of $18.40.

Acadia Realty Trust Trading Up 2.3 %

NYSE AKR opened at $17.92 on Wednesday. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $17.97. The company has a 50 day moving average price of $17.15 and a 200 day moving average price of $16.95. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.85 billion, a PE ratio of 224.00, a price-to-earnings-growth ratio of 4.66 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the prior year, the firm posted $0.40 earnings per share. Acadia Realty Trust’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Insider Buying and Selling

In other Acadia Realty Trust news, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the sale, the chief financial officer now owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.89, for a total value of $211,125.00. Following the completion of the transaction, the chief financial officer now owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. raised its position in Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 2,152 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Acadia Realty Trust during the 1st quarter worth about $58,000. GAMMA Investing LLC purchased a new position in Acadia Realty Trust in the 4th quarter valued at about $61,000. Ameritas Investment Partners Inc. boosted its holdings in 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 worth $171,000 after buying an additional 740 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Acadia Realty Trust during the 4th quarter worth approximately $174,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.