Acadia Realty Trust (NYSE:AKR) Short Interest Down 5.3% in September

Acadia Realty Trust (NYSE:AKR) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,500,000 shares, a drop of 5.3% from the September 15th total of 2,640,000 shares. Based on an average daily volume of 872,600 shares, the short-interest ratio is currently 2.9 days.

Hedge Funds Weigh In On Acadia Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust in the 3rd quarter valued at about $80,000. Handelsbanken Fonder AB increased its stake in Acadia Realty Trust by 46.8% in the third quarter. Handelsbanken Fonder AB now owns 32,932 shares of the real estate investment trust’s stock valued at $773,000 after purchasing an additional 10,500 shares in the last quarter. SG Americas Securities LLC raised its holdings in Acadia Realty Trust by 422.8% in the third quarter. SG Americas Securities LLC now owns 30,056 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 24,307 shares during the period. Algert Global LLC bought a new position in shares of Acadia Realty Trust during the second quarter worth $186,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of Acadia Realty Trust by 250.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,098 shares of the real estate investment trust’s stock valued at $1,597,000 after buying an additional 63,671 shares during the period. Institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective on the stock in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.60.

Acadia Realty Trust Price Performance

Shares of AKR stock opened at $24.74 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $24.75. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 309.25, a PEG ratio of 6.04 and a beta of 1.47. The stock has a 50-day moving average price of $22.72 and a 200 day moving average price of $19.63.

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

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio is currently 950.00%.

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.