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 sent to investors on Saturday morning.

AKR has been the subject of several other reports. Truist Financial lifted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Price Performance

AKR stock opened at $24.60 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a 52-week low of $14.62 and a 52-week high of $25.58. The company has a market capitalization of $2.94 billion, a P/E ratio of 273.33, a PEG ratio of 6.22 and a beta of 1.46. The company has a fifty day moving average price of $23.74 and a 200-day moving average price of $20.71.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results 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 for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, equities analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Acadia Realty Trust by 7.7% during the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after acquiring an additional 1,192,138 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after acquiring an additional 388,067 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Acadia Realty Trust by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock worth $930,000 after acquiring an additional 1,200 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Acadia Realty Trust by 1.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock valued at $2,234,000 after acquiring an additional 2,290 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Acadia Realty Trust by 80.1% during the 1st quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock valued at $941,000 after purchasing an additional 24,609 shares during the last quarter. 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.