Acadia Realty Trust (NYSE:AKR) Reaches New 52-Week High at $23.35

Acadia Realty Trust (NYSE:AKR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.35 and last traded at $23.26, with a volume of 248649 shares changing hands. The stock had previously closed at $23.00.

Analyst Ratings Changes

AKR has been the subject of several analyst reports. JPMorgan Chase & Co. raised Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. Truist Financial boosted their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Friday. Finally, Compass Point upped their price target on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.80.

Acadia Realty Trust Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 290.63, a price-to-earnings-growth ratio of 5.85 and a beta of 1.47. The business’s fifty day moving average price is $21.69 and its 200 day moving average price is $18.76.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data 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). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. During the same period in the prior year, the firm earned $0.36 earnings per share. Acadia Realty Trust’s revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s dividend payout ratio is presently 950.00%.

Institutional Investors Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of AKR. Dimensional Fund Advisors LP increased its holdings in shares of Acadia Realty Trust by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,361,088 shares of the real estate investment trust’s stock valued at $23,126,000 after acquiring an additional 16,812 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Acadia Realty Trust during the fourth quarter valued at about $174,000. Norges Bank bought a new stake in shares of Acadia Realty Trust during the fourth quarter worth about $10,414,000. US Bancorp DE raised its holdings in shares of Acadia Realty Trust by 3,537.2% in the 4th quarter. US Bancorp DE now owns 35,936 shares of the real estate investment trust’s stock worth $611,000 after acquiring an additional 34,948 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Acadia Realty Trust by 4.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 113,776 shares of the real estate investment trust’s stock valued at $1,933,000 after acquiring an additional 4,800 shares in the last quarter. 97.65% of the stock is owned by institutional investors.

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.