Acadia Realty Trust (NYSE:AKR) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust (NYSE:AKR) from an underweight rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $18.00 target price on the real estate investment trust’s stock.

Separately, Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and boosted their price target for the company from $18.00 to $20.00 in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $18.40.

Acadia Realty Trust Stock Up 1.1 %

Shares of AKR stock opened at $17.45 on Wednesday. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $17.90. The stock’s fifty day moving average price is $17.12 and its 200 day moving average price is $16.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 218.06, a price-to-earnings-growth ratio of 4.55 and a beta of 1.44.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The business had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.18 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 4.13%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Insider Activity

In other news, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.89, for a total value of $211,125.00. Following the completion of the transaction, the chief financial officer now owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.89, for a total value of $211,125.00. Following the completion of the transaction, the chief financial officer now owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Hartmann sold 25,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.10, for a total value of $427,500.00. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Acadia Realty Trust

A number of large investors have recently bought and sold shares of AKR. Federated Hermes Inc. raised its holdings in Acadia Realty Trust by 189.9% in the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 2,152 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Acadia Realty Trust in the 1st quarter worth about $58,000. GAMMA Investing LLC acquired a new position in Acadia Realty Trust in the 4th quarter worth about $61,000. Ameritas Investment Partners Inc. raised its holdings 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 worth $171,000 after purchasing an additional 740 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Acadia Realty Trust in the 4th quarter worth about $174,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

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.