Acadia Realty Trust (NYSE:AKR) Short Interest Up 35.0% in November

Acadia Realty Trust (NYSE:AKR) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 8,260,000 shares, an increase of 35.0% from the November 15th total of 6,120,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is currently 7.4 days.

Hedge Funds Weigh In On Acadia Realty Trust

Several large investors have recently bought and sold shares of AKR. Asset Management One Co. Ltd. raised its holdings in Acadia Realty Trust by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after purchasing an additional 476 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Acadia Realty Trust by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock worth $1,614,000 after acquiring an additional 531 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Acadia Realty Trust by 2.5% during the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 582 shares during the last quarter. Arizona State Retirement System increased its position in shares of Acadia Realty Trust by 2.6% during the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 724 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Acadia Realty Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Up 0.6 %

NYSE AKR traded up $0.15 during trading hours on Friday, hitting $25.35. 1,317,978 shares of the company were exchanged, compared to its average volume of 1,027,089. The company has a 50 day moving average of $24.73 and a two-hundred day moving average of $21.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 281.67, a PEG ratio of 6.32 and a beta of 1.46. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29.

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

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.00%. Acadia Realty Trust’s payout ratio is currently 844.44%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial boosted their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Acadia Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $22.40.

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.