Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,640,000 shares, a drop of 6.7% from the August 31st total of 2,830,000 shares. Based on an average daily volume of 828,100 shares, the short-interest ratio is currently 3.2 days.

Acadia Realty Trust Stock Performance

NYSE:AKR traded down $0.30 during trading hours on Tuesday, reaching $23.18. The company had a trading volume of 1,969,005 shares, compared to its average volume of 984,532. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $23.56. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 290.13, a PEG ratio of 5.98 and a beta of 1.47. The firm’s 50 day moving average price is $22.01 and its 200-day moving average price is $18.99.

Acadia Realty Trust (NYSE:AKR) last posted its 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 company had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts forecast that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is 950.00%.

Wall Street Analysts Forecast Growth

AKR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Compass Point boosted their price objective on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Truist Financial boosted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.80.

Institutional Investors Weigh In On Acadia Realty Trust

Hedge funds have recently modified their holdings of the business. Algert Global LLC purchased a new position in shares of Acadia Realty Trust during the 2nd quarter valued at $186,000. Susquehanna Fundamental Investments LLC lifted its stake in shares of Acadia Realty Trust by 250.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,098 shares of the real estate investment trust’s stock valued at $1,597,000 after buying an additional 63,671 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Acadia Realty Trust by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,697 shares of the real estate investment trust’s stock valued at $944,000 after buying an additional 4,810 shares in the last quarter. APG Asset Management US Inc. purchased a new position in shares of Acadia Realty Trust during the 2nd quarter valued at $18,070,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Acadia Realty Trust by 16.3% during the 2nd quarter. Squarepoint Ops LLC now owns 60,075 shares of the real estate investment trust’s stock valued at $1,077,000 after buying an additional 8,421 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

About Acadia Realty Trust

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.