Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 2,860,000 shares, a drop of 5.9% from the May 31st total of 3,040,000 shares. Based on an average daily volume of 926,200 shares, the short-interest ratio is presently 3.1 days.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $18.24 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.88 billion, a P/E ratio of 227.94, a price-to-earnings-growth ratio of 4.80 and a beta of 1.46. The firm has a 50 day moving average of $17.19 and a 200-day moving average of $16.98. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $18.39.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The company had revenue of $91.36 million during the quarter, compared to analyst estimates of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, June 28th. Acadia Realty Trust’s dividend payout ratio is currently 900.00%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AKR. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.00 to $20.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Acadia Realty Trust currently has an average rating of “Hold” and an average price target of $18.40.

Insiders Place Their Bets

In other Acadia Realty Trust news, VP Richard Hartmann sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Acadia Realty Trust news, CFO John J. Gottfried sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the transaction, the chief financial officer now owns 7,600 shares in the company, valued at $128,364. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Hartmann sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cohen & Steers Inc. increased its holdings in shares of Acadia Realty Trust by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock valued at $268,273,000 after purchasing an additional 776,121 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Acadia Realty Trust by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock worth $143,741,000 after acquiring an additional 223,215 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Acadia Realty Trust by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,682,989 shares of the real estate investment trust’s stock worth $28,594,000 after acquiring an additional 54,996 shares during the period. Vanguard Group Inc. grew its holdings in Acadia Realty Trust by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock worth $223,316,000 after acquiring an additional 118,807 shares during the period. Finally, Graham Capital Management L.P. grew its holdings in Acadia Realty Trust by 238.7% during the 3rd quarter. Graham Capital Management L.P. now owns 46,341 shares of the real estate investment trust’s stock worth $665,000 after acquiring an additional 32,659 shares during the period. 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.