Acadia Realty Trust (NYSE:AKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Acadia Realty Trust (NYSE:AKR) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.60.

A number of research firms recently issued reports on AKR. 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 research note on Thursday, October 10th. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Truist Financial increased their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AKR. FMR LLC lifted its position in Acadia Realty Trust by 290.3% during the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock worth $283,775,000 after acquiring an additional 1,192,138 shares during the last quarter. APG Asset Management US Inc. purchased a new position in Acadia Realty Trust in the second quarter worth $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Acadia Realty Trust by 381.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock valued at $15,422,000 after acquiring an additional 520,319 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after purchasing an additional 388,067 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Price Performance

AKR opened at $25.19 on Friday. The firm has a 50-day moving average price of $23.97 and a 200-day moving average price of $20.96. Acadia Realty Trust has a twelve month low of $14.72 and a twelve month high of $25.58. 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 company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 279.83, a PEG ratio of 6.31 and a beta of 1.46.

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

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given 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 3.02%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

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.