Acadia Realty Trust (NYSE:AKR) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a research report released on Thursday morning.

Other equities analysts also recently issued reports about the stock. Bank of America upgraded shares of Acadia Realty Trust from a neutral rating to a buy rating and upped their price target for the company from $18.00 to $20.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. upgraded 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 research report on Wednesday, June 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $18.40.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $21.48 on Thursday. The stock has a market cap of $2.22 billion, a PE ratio of 268.50, a P/E/G ratio of 5.71 and a beta of 1.46. 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 firm has a 50-day moving average of $18.43 and a 200-day moving average of $17.42. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $22.51.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The firm had revenue of $87.25 million for 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 company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.54%. Acadia Realty Trust’s payout ratio is presently 950.00%.

Institutional Investors Weigh In On Acadia Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Acadia Realty Trust by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after purchasing an additional 1,192,138 shares during the last quarter. Easterly Investment Partners LLC acquired a new stake in Acadia Realty Trust in the first quarter valued at approximately $18,139,000. Cohen & Steers Inc. grew its stake in shares of Acadia Realty Trust by 5.2% during the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after buying an additional 776,121 shares during the last quarter. Norges Bank acquired a new position in shares of Acadia Realty Trust during the fourth quarter worth $10,414,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Acadia Realty Trust by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after acquiring an additional 388,067 shares during the last quarter. 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.