Acadia Realty Trust (NYSE:AKR) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report published on Monday morning.

A number of other analysts have also issued reports on the company. Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.60.

Acadia Realty Trust Trading Down 0.9 %

Shares of Acadia Realty Trust stock opened at $25.63 on Monday. The stock has a 50 day moving average of $24.28 and a 200 day moving average of $21.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 284.78, a PEG ratio of 6.53 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $15.48 and a fifty-two week high of $26.29.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period in the previous year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.97%. Acadia Realty Trust’s payout ratio is 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Acadia Realty Trust by 290.3% during the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock worth $224,910,000 after buying an additional 7,124,403 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Acadia Realty Trust during the 2nd quarter worth approximately $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Acadia Realty Trust by 381.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock worth $15,422,000 after acquiring an additional 520,319 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Acadia Realty Trust in the 2nd quarter valued at approximately $5,090,000. Finally, Renaissance Technologies LLC boosted its position in Acadia Realty Trust by 173.8% during the second quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock worth $4,745,000 after purchasing an additional 168,100 shares in the last quarter. 97.65% of the stock is 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.