Acadia Realty Trust (NYSE:AKR) Upgraded to “Hold” at StockNews.com

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

Several other equities analysts also recently weighed in on the stock. Truist Financial lifted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a hold rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective on the stock in a research report on Wednesday, June 26th. Finally, Compass Point upped their target price on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a neutral rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $20.80.

Acadia Realty Trust Trading Down 1.2 %

Shares of AKR stock opened at $23.19 on Friday. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $23.56. The firm has a fifty day moving average price of $22.07 and a 200-day moving average price of $19.04. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 289.88, a PEG ratio of 5.98 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 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 analysts’ expectations of $70.16 million. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

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

Hedge Funds Weigh In On Acadia Realty Trust

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust in the first quarter valued at approximately $58,000. SG Americas Securities LLC purchased a new stake in shares of Acadia Realty Trust in the second quarter valued at approximately $103,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Acadia Realty Trust by 8.0% in 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 during the period. Finally, Algert Global LLC purchased a new stake in shares of Acadia Realty Trust in the second quarter valued at approximately $186,000. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

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.