Acadia Realty Trust (NYSE:AKR) Raised to Hold at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective on the stock in a research note on Wednesday, June 26th. 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. Finally, Compass Point increased their price objective on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a neutral rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $20.80.

Get Our Latest Analysis on Acadia Realty Trust

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $23.48 on Friday. 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 stock has a market capitalization of $2.42 billion, a PE ratio of 293.50, a price-to-earnings-growth ratio of 5.98 and a beta of 1.47. The firm’s 50 day moving average price is $22.01 and its 200-day moving average price is $18.99. Acadia Realty Trust has a twelve month low of $13.24 and a twelve month high of $23.56.

Acadia Realty Trust (NYSE:AKR – Get Free Report) last released its quarterly 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). The business had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. Equities research analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is 950.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new stake in Acadia Realty Trust in the 2nd quarter valued at $186,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of Acadia Realty Trust by 250.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 89,098 shares of the real estate investment trust’s stock worth $1,597,000 after purchasing an additional 63,671 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Acadia Realty Trust by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 52,697 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 4,810 shares in the last quarter. APG Asset Management US Inc. bought a new position in Acadia Realty Trust during the second quarter valued at approximately $18,070,000. Finally, Squarepoint Ops LLC grew its holdings in Acadia Realty Trust by 16.3% during the 2nd quarter. Squarepoint Ops LLC now owns 60,075 shares of the real estate investment trust’s stock valued at $1,077,000 after buying an additional 8,421 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

(Get Free Report)

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.

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