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

Acadia Realty Trust (NYSE:AKR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Acadia Realty Trust Price Performance

NYSE:AKR opened at $24.60 on Friday. The stock has a market cap of $2.94 billion, a P/E ratio of 273.33, a PEG ratio of 6.25 and a beta of 1.46. Acadia Realty Trust has a one year low of $14.62 and a one year high of $25.58. The company has a fifty day moving average price of $23.74 and a 200 day moving average price of $20.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKR) last announced 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 net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Acadia Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in AKR. GAMMA Investing LLC raised its position in Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 572 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Acadia Realty Trust in the 1st quarter valued at about $58,000. USA Financial Formulas acquired a new stake in Acadia Realty Trust in the 3rd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. increased its position in Acadia Realty Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 1,039 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Acadia Realty Trust in the second quarter valued at approximately $103,000. Institutional investors own 97.65% of the company’s stock.

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.