StockNews.com Upgrades Acadia Realty Trust (NYSE:AKR) to Hold

Acadia Realty Trust (NYSE:AKR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

AKR has been the subject of a number of other research reports. Compass Point lifted their target price on Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday. Truist Financial lifted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective on the stock in a research note on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acadia Realty Trust has a consensus rating of “Hold” and a consensus target price of $20.80.

Acadia Realty Trust Price Performance

NYSE:AKR opened at $22.97 on Thursday. The company has a market cap of $2.42 billion, a P/E ratio of 287.13, a P/E/G ratio of 5.85 and a beta of 1.47. The firm’s fifty day moving average price is $21.23 and its two-hundred day moving average price is $18.47. Acadia Realty Trust has a one year low of $13.24 and a one year high of $23.29. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The company had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. Equities analysts expect that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake 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 worth $283,775,000 after buying an additional 1,192,138 shares during the last quarter. Easterly Investment Partners LLC bought a new position in Acadia Realty Trust in the first quarter valued at about $18,139,000. APG Asset Management US Inc. acquired a new stake in shares of Acadia Realty Trust during the second quarter valued at about $18,070,000. Cohen & Steers Inc. grew its holdings in shares of Acadia Realty Trust by 5.2% during the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after purchasing an additional 776,121 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Acadia Realty Trust in the fourth quarter valued at approximately $10,414,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.

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.