Acadia Realty Trust (NYSE:AKR) Upgraded to “Buy” by Compass Point

Acadia Realty Trust (NYSE:AKR) was upgraded by Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $27.00 price objective on the real estate investment trust’s stock. Compass Point’s target price would suggest a potential upside of 16.23% from the stock’s previous close.

Several other research firms also recently issued reports on AKR. 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 research note on Wednesday, June 26th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Truist Financial lifted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock opened at $23.23 on Thursday. The company’s 50 day moving average price is $22.34 and its two-hundred day moving average price is $19.29. The firm has a market capitalization of $2.40 billion, a P/E ratio of 290.38, a P/E/G ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $23.56. 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 released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. During the same period last year, the business earned $0.36 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. On average, equities analysts forecast that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.