Acadia Realty Trust (NYSE:AKR) Reaches New 1-Year High at $22.69

Acadia Realty Trust (NYSE:AKR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.69 and last traded at $22.52, with a volume of 26113 shares trading hands. The stock had previously closed at $22.37.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AKR. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upgraded 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 report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.40.

Acadia Realty Trust Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.90 and a current ratio of 1.08. The company’s fifty day simple moving average is $19.98 and its two-hundred day simple moving average is $17.96. The stock has a market capitalization of $2.31 billion, a PE ratio of 280.25, a P/E/G ratio of 5.71 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The business had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same quarter last year, the business posted $0.36 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.39%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. Acadia Realty Trust’s payout ratio is presently 950.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AKR. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Acadia Realty Trust by 6.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,187 shares of the real estate investment trust’s stock valued at $700,000 after buying an additional 2,595 shares in the last quarter. Federated Hermes Inc. lifted its position in Acadia Realty Trust by 113.1% during the fourth quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 3,715 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Acadia Realty Trust during the fourth quarter worth $61,000. Van ECK Associates Corp lifted its position in shares of Acadia Realty Trust by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 13,098 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 2,154 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Acadia Realty Trust by 12.9% during the fourth quarter. Victory Capital Management Inc. now owns 78,797 shares of the real estate investment trust’s stock worth $1,339,000 after purchasing an additional 9,028 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

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.