Acadia Realty Trust (NYSE:AKR) Hits New 1-Year High – Still a Buy?

Shares of Acadia Realty Trust (NYSE:AKR) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $24.73 and last traded at $24.70, with a volume of 206069 shares changing hands. The stock had previously closed at $24.45.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. raised 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 note on Wednesday, June 26th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company 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 given a buy rating to the stock. According to data from MarketBeat, Acadia Realty Trust has a consensus rating of “Hold” and a consensus price target of $21.60.

Acadia Realty Trust Stock Up 1.0 %

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The stock’s 50-day simple moving average is $22.66 and its 200-day simple moving average is $19.58. The firm has a market capitalization of $2.55 billion, a P/E ratio of 308.13, a P/E/G ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The firm 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 for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, research analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.08%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, September 30th. Acadia Realty Trust’s payout ratio is presently 950.00%.

Institutional Trading of Acadia Realty Trust

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after buying an additional 1,192,138 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Acadia Realty Trust by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after acquiring an additional 388,067 shares during the period. Dimensional Fund Advisors LP increased its holdings in Acadia Realty Trust by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock worth $26,337,000 after acquiring an additional 75,233 shares during the period. Bank of New York Mellon Corp increased its holdings in Acadia Realty Trust by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock worth $21,090,000 after acquiring an additional 8,739 shares during the period. Finally, Easterly Investment Partners LLC bought a new stake in Acadia Realty Trust during the 1st quarter worth approximately $18,139,000. 97.65% of the stock is currently 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.