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

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

AKR has been the topic of a number of other research reports. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Truist Financial upped their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $24.98 on Friday. Acadia Realty Trust has a 1 year low of $14.62 and a 1 year high of $25.58. The company’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $20.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 277.56, a price-to-earnings-growth ratio of 6.22 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same period last year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.04%. Acadia Realty Trust’s payout ratio is 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of AKR. Geode Capital Management LLC increased its position in shares of Acadia Realty Trust by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after purchasing an additional 63,672 shares during the last quarter. Vestcor Inc boosted its holdings in Acadia Realty Trust by 2.7% in the 3rd quarter. Vestcor Inc now owns 92,672 shares of the real estate investment trust’s stock valued at $2,176,000 after purchasing an additional 2,407 shares during the period. Barclays PLC grew its position in Acadia Realty Trust by 11.8% during the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock worth $18,240,000 after buying an additional 81,853 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Acadia Realty Trust by 2.8% in the third quarter. Public Employees Retirement System of Ohio now owns 151,650 shares of the real estate investment trust’s stock worth $3,561,000 after purchasing an additional 4,086 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Acadia Realty Trust by 3.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 136,456 shares of the real estate investment trust’s stock worth $3,204,000 after buying an additional 5,000 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.