Acadia Realty Trust (NYSE:AKR) Sets New 1-Year High at $20.58

Shares of Acadia Realty Trust (NYSE:AKR) reached a new 52-week high on Monday . The stock traded as high as $20.58 and last traded at $20.45, with a volume of 50314 shares trading hands. The stock had previously closed at $20.44.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Wednesday, June 26th. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.40.

Acadia Realty Trust Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average is $17.97 and its two-hundred day moving average is $17.27. The stock has a market capitalization of $2.12 billion, a P/E ratio of 255.50, a P/E/G ratio of 5.38 and a beta of 1.46.

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

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 3.51%. Acadia Realty Trust’s payout ratio is 900.00%.

Insider Activity at Acadia Realty Trust

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

Institutional Trading of Acadia Realty Trust

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 572 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Acadia Realty Trust in the 1st quarter worth approximately $58,000. SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust in the 2nd quarter worth approximately $103,000. Federated Hermes Inc. lifted its stake 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 purchasing an additional 3,715 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Acadia Realty Trust by 8.0% during 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. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

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.