Acadia Realty Trust (NYSE:AKR) Receives $18.40 Consensus Target Price from Analysts

Acadia Realty Trust (NYSE:AKR) has been given an average recommendation of “Hold” by the five research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.40.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target for the company in a research note on Wednesday. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.00 to $20.00 in a research note on Friday, April 5th.

Acadia Realty Trust Trading Up 1.4 %

Shares of NYSE:AKR opened at $17.94 on Wednesday. The stock has a 50 day moving average of $17.15 and a 200 day moving average of $16.94. The company has a market cap of $1.85 billion, a PE ratio of 224.25, a price-to-earnings-growth ratio of 4.60 and a beta of 1.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $17.97.

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

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.01%. Acadia Realty Trust’s dividend payout ratio is currently 900.00%.

Insider Activity

In related news, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO John J. Gottfried sold 12,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now owns 7,600 shares in the company, valued at approximately $128,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The stock was 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. Corporate insiders own 2.83% of the company’s stock.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its stake in Acadia Realty Trust by 1.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock worth $2,234,000 after purchasing an additional 2,290 shares during the period. California State Teachers Retirement System increased its stake in shares of Acadia Realty Trust by 1.8% during the first quarter. California State Teachers Retirement System now owns 102,077 shares of the real estate investment trust’s stock valued at $1,736,000 after buying an additional 1,809 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Acadia Realty Trust by 6.5% during the first quarter. Public Employees Retirement System of Ohio now owns 147,585 shares of the real estate investment trust’s stock valued at $2,510,000 after buying an additional 9,055 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 valued at $150,511,000 after buying an additional 388,067 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Acadia Realty Trust by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 226,898 shares of the real estate investment trust’s stock valued at $3,862,000 after buying an additional 16,842 shares during the period. Hedge funds and other institutional investors 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.