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

Acadia Realty Trust (NYSE:AKR) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research firms have also commented on AKR. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial upped 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $24.59 on Tuesday. The stock has a 50-day moving average price of $23.18 and a two-hundred day moving average price of $20.08. Acadia Realty Trust has a 12 month low of $13.48 and a 12 month high of $24.75. The company has a market capitalization of $2.59 billion, a PE ratio of 273.22, a P/E/G ratio of 6.30 and a beta of 1.47. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76.

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 for the quarter, missing the consensus estimate of $0.32 by ($0.25). The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS. Analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Acadia Realty Trust by 7.7% in 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 acquiring an additional 1,192,138 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Acadia Realty Trust by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock worth $150,511,000 after buying an additional 388,067 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Acadia Realty Trust by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock worth $26,337,000 after buying an additional 75,233 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Acadia Realty Trust by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock valued at $21,090,000 after buying an additional 8,739 shares during the last quarter. Finally, Easterly Investment Partners LLC bought a new stake in shares of Acadia Realty Trust during the first quarter worth about $18,139,000. 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.