Compass Point Raises Acadia Realty Trust (NYSE:AKR) Price Target to $23.00

Acadia Realty Trust (NYSE:AKR) had its target price increased by Compass Point from $22.00 to $23.00 in a report released on Tuesday morning, Benzinga reports. Compass Point currently has a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the company. Truist Financial upped their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. StockNews.com downgraded Acadia Realty Trust from a hold rating to a sell rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 target price on the stock in a research note on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $20.80.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $22.97 on Tuesday. Acadia Realty Trust has a one year low of $13.24 and a one year high of $23.29. The firm has a 50-day moving average of $21.23 and a 200-day moving average of $18.47. 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 company has a market cap of $2.42 billion, a PE ratio of 287.13, a price-to-earnings-growth ratio of 5.85 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. During the same quarter last year, the firm posted $0.36 EPS. Acadia Realty Trust’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts forecast that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.19 per share. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 3.31%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Hedge Funds Weigh In On Acadia Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake 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 valued at $42,000 after buying an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Acadia Realty Trust in the 1st quarter valued at $58,000. SG Americas Securities LLC acquired a new stake in shares of Acadia Realty Trust during the second quarter valued at about $103,000. Ameritas Investment Partners Inc. lifted its position in shares of 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 worth $171,000 after purchasing an additional 740 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Acadia Realty Trust in the fourth quarter worth about $174,000. 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.