Acadia Realty Trust (NYSE:AKR) Lowered to Sell Rating by StockNews.com

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

A number of other research analysts also recently weighed in on AKR. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial increased their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust has a consensus rating of “Hold” and a consensus target price of $21.60.

Acadia Realty Trust Stock Performance

AKR stock opened at $25.00 on Friday. 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 firm has a market cap of $2.99 billion, a PE ratio of 277.78, a P/E/G ratio of 6.34 and a beta of 1.46. The business has a 50 day moving average of $23.52 and a 200-day moving average of $20.45. Acadia Realty Trust has a 12-month low of $14.06 and a 12-month high of $25.58.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million for 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, sell-side analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

Large investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. increased its holdings in Acadia Realty Trust by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock worth $3,725,000 after acquiring an additional 476 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Acadia Realty Trust by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock valued at $1,614,000 after purchasing an additional 531 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 period. IFM Investors Pty Ltd raised its position in shares of Acadia Realty Trust by 2.5% in the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock worth $559,000 after buying an additional 582 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Acadia Realty Trust by 2.6% during the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 724 shares during the period. 97.65% of the stock is owned by institutional investors.

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.