Acadia Realty Trust (NYSE:AKR) Receives $21.60 Consensus Target Price from Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.60.

Several research firms have issued reports on AKR. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. 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 research report on Wednesday, August 28th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th.

Acadia Realty Trust Price Performance

Shares of AKR stock opened at $25.59 on Friday. The stock’s 50-day moving average is $24.02 and its 200 day moving average is $21.08. 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 has a 1-year low of $14.74 and a 1-year high of $25.78. The company has a market cap of $3.06 billion, a P/E ratio of 284.33, a PEG ratio of 6.37 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 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 firm had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period in the prior year, the firm posted $0.27 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. Research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $283,775,000 after purchasing an additional 1,192,138 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Acadia Realty Trust by 4.6% in 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 acquiring an additional 388,067 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Acadia Realty Trust by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock valued at $930,000 after acquiring an additional 1,200 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Acadia Realty Trust during the third quarter worth about $202,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Acadia Realty Trust by 1.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock worth $2,234,000 after acquiring an additional 2,290 shares during the period. Hedge funds and other 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.