Acadia Realty Trust (NYSE:AKR) Upgraded to “Neutral” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust (NYSE:AKR) from an underweight rating to a neutral rating in a report issued on Wednesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $18.00 target price on the real estate investment trust’s stock.

Separately, Bank of America raised Acadia Realty Trust from a neutral rating to a buy rating and increased their price objective for the company from $18.00 to $20.00 in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of Hold and a consensus target price of $18.40.

Acadia Realty Trust Price Performance

AKR stock opened at $17.92 on Wednesday. The firm has a market cap of $1.85 billion, a P/E ratio of 224.00, a P/E/G ratio of 4.66 and a beta of 1.44. The firm’s fifty day moving average is $17.15 and its 200 day moving average is $16.95. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $17.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.90.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. During the same period last year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 4.02%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Insider Activity at Acadia Realty Trust

In other news, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Acadia Realty Trust news, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total value of $427,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now owns 7,600 shares in the company, valued at approximately $128,364. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. increased its holdings in shares of Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,152 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Acadia Realty Trust during the 1st quarter valued at about $58,000. GAMMA Investing LLC purchased a new position in Acadia Realty Trust in the fourth quarter worth about $61,000. Ameritas Investment Partners Inc. lifted its stake 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 worth $171,000 after buying an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Acadia Realty Trust during the fourth quarter valued at approximately $174,000. 97.65% of the stock is currently 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.