Acadia Realty Trust (NYSE:AKR) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other research firms have also weighed in on AKR. JPMorgan Chase & Co. raised Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 target price for the company in a research note on Wednesday, June 26th. Compass Point upped their price target on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the company a neutral rating in a report on Tuesday, September 10th. Finally, Truist Financial increased their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a hold rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $20.80.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $23.19 on Friday. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 289.88, a PEG ratio of 5.98 and a beta of 1.47. The business has a 50 day moving average of $22.07 and a 200 day moving average of $19.04. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $23.56.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The business had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, sell-side analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.19 dividend. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 3.28%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 950.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Acadia Realty Trust by 32.7% in the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 572 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust in the 1st quarter worth approximately $58,000. SG Americas Securities LLC bought a new position in Acadia Realty Trust during the 2nd quarter valued at approximately $103,000. Ameritas Investment Partners Inc. raised its stake in Acadia Realty Trust by 8.0% during the first 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 during the last quarter. Finally, Algert Global LLC bought a new stake in Acadia Realty Trust in the second quarter worth $186,000. 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.