StockNews.com Upgrades Acadia Realty Trust (NYSE:AKR) 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 Saturday morning.

Several other brokerages have also issued reports on AKR. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock opened at $24.98 on Friday. Acadia Realty Trust has a 1-year low of $14.62 and a 1-year high of $25.58. The firm has a market cap of $2.99 billion, a P/E ratio of 277.56, a P/E/G ratio of 6.22 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $23.84 and a 200-day moving average of $20.85.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.04%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew 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 buying an additional 572 shares in the last quarter. USA Financial Formulas bought a new position in shares of Acadia Realty Trust in the third quarter worth about $80,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Acadia Realty Trust during the first quarter worth approximately $58,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 1,039 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust in the second quarter valued at about $103,000. Hedge funds and other institutional investors 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.