Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 2,640,000 shares, a decline of 6.7% from the August 31st total of 2,830,000 shares. Based on an average daily volume of 828,100 shares, the short-interest ratio is currently 3.2 days.

Acadia Realty Trust Price Performance

Shares of AKR stock traded down $0.30 on Tuesday, reaching $23.18. The company’s stock had a trading volume of 1,969,005 shares, compared to its average volume of 984,532. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $23.56. The company has a market capitalization of $2.39 billion, a P/E ratio of 290.13, a PEG ratio of 5.98 and a beta of 1.47. The stock’s 50 day simple moving average is $22.01 and its 200-day simple moving average is $18.99.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The firm had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. As a group, equities analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is 950.00%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AKR. Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a report on Wednesday, June 26th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Compass Point increased their price objective on Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake 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 last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Acadia Realty Trust in the first quarter worth about $58,000. SG Americas Securities LLC purchased a new stake in Acadia Realty Trust in the second quarter worth about $103,000. Ameritas Investment Partners Inc. lifted its holdings in 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 during the period. Finally, Algert Global LLC purchased a new stake in Acadia Realty Trust in the second quarter worth about $186,000. 97.65% of the stock is owned by institutional investors.

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.