Acadia Realty Trust (NYSE:AKR) Sets New 12-Month High at $22.69

Acadia Realty Trust (NYSE:AKR)’s stock price hit a new 52-week high on Monday . The stock traded as high as $22.69 and last traded at $22.52, with a volume of 26113 shares trading hands. The stock had previously closed at $22.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded 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 research note on Wednesday, June 26th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.40.

Acadia Realty Trust Price Performance

The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 279.63, a PEG ratio of 5.71 and a beta of 1.46. The company’s 50 day moving average is $19.77 and its 200 day moving average is $17.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.90.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results 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 company had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. Acadia Realty Trust’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. Research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.19 dividend. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 3.37%. Acadia Realty Trust’s dividend payout ratio is 950.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 572 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Acadia Realty Trust during the 1st quarter worth approximately $58,000. SG Americas Securities LLC acquired a new position in shares of Acadia Realty Trust during the 2nd quarter worth approximately $103,000. Federated Hermes Inc. raised its position in shares of Acadia Realty Trust by 113.1% during the 4th quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 3,715 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Acadia Realty Trust by 8.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $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.