StockNews.com Downgrades Acadia Realty Trust (NYSE:AKR) to Sell

Acadia Realty Trust (NYSE:AKR) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other equities research analysts have also issued reports about the stock. 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. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target for the company in a research note on Wednesday, June 26th. Finally, Truist Financial raised their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Acadia Realty Trust currently has a consensus rating of “Hold” and an average target price of $20.80.

Acadia Realty Trust Price Performance

AKR opened at $22.71 on Friday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 283.88, a PEG ratio of 5.85 and a beta of 1.47. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $21.62 and a 200-day moving average price of $18.68. Acadia Realty Trust has a twelve month low of $13.24 and a twelve month high of $23.29.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of 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 worth $42,000 after purchasing an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Acadia Realty Trust in the 1st quarter worth approximately $58,000. SG Americas Securities LLC purchased a new position in shares of Acadia Realty Trust in the 2nd quarter valued at approximately $103,000. Ameritas Investment Partners Inc. boosted 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 valued at $171,000 after purchasing an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Acadia Realty Trust in the fourth quarter worth $174,000. Hedge funds and other 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.