Short Interest in Acadia Realty Trust (NYSE:AKR) Increases By 21.7%

Acadia Realty Trust (NYSE:AKR) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 12,390,000 shares, an increase of 21.7% from the December 15th total of 10,180,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 9.2 days.

Institutional Trading of Acadia Realty Trust

Institutional investors have recently made changes to their positions in the company. USA Financial Formulas purchased a new position in Acadia Realty Trust during the third quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 buying an additional 1,039 shares in the last quarter. Algert Global LLC purchased a new position in shares of Acadia Realty Trust in the 2nd quarter worth approximately $186,000. Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust in the third quarter valued at approximately $202,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Acadia Realty Trust during the third quarter valued at approximately $202,000. Institutional investors own 97.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AKR shares. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial boosted their target price on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Acadia Realty Trust has a consensus rating of “Hold” and a consensus target price of $23.00.

Acadia Realty Trust Trading Down 1.1 %

AKR opened at $22.64 on Friday. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The firm has a market capitalization of $2.71 billion, a PE ratio of 251.59, a P/E/G ratio of 5.34 and a beta of 1.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50-day moving average is $24.42 and its 200 day moving average is $22.99.

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

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is 844.44%.

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.