Acadia Realty Trust (NYSE:AKR) Price Target Raised to $23.00

Acadia Realty Trust (NYSE:AKR) had its price objective boosted by Compass Point from $22.00 to $23.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

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

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $22.97 on Tuesday. The business’s fifty day moving average price is $21.23 and its two-hundred day moving average price is $18.47. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $23.29. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 287.13, a price-to-earnings-growth ratio of 5.85 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.30). The firm had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, analysts predict that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 3.31%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio is 900.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Acadia Realty Trust by 12.9% in the 4th quarter. Victory Capital Management Inc. now owns 78,797 shares of the real estate investment trust’s stock valued at $1,339,000 after buying an additional 9,028 shares in the last quarter. Natixis Advisors L.P. raised its stake in Acadia Realty Trust by 5.2% during the fourth quarter. Natixis Advisors L.P. now owns 21,943 shares of the real estate investment trust’s stock worth $372,000 after acquiring an additional 1,087 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Acadia Realty Trust by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,682,989 shares of the real estate investment trust’s stock valued at $28,594,000 after acquiring an additional 54,996 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Acadia Realty Trust by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,361,088 shares of the real estate investment trust’s stock worth $23,126,000 after buying an additional 16,812 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Acadia Realty Trust during the 4th quarter valued at $174,000. Institutional investors and hedge funds 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.