Acadia Realty Trust (NYSE:AKR) Price Target Lowered to $23.00 at Truist Financial

Acadia Realty Trust (NYSE:AKR) had its target price reduced by Truist Financial from $25.00 to $23.00 in a research note released on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Separately, StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and an average target price of $22.00.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $20.71 on Tuesday. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The company has a 50 day moving average of $22.57 and a 200-day moving average of $23.55. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 115.06, a PEG ratio of 6.09 and a beta of 1.49.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, equities analysts forecast that Acadia Realty Trust will post 1.34 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, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. Acadia Realty Trust’s payout ratio is currently 444.44%.

Insider Buying and Selling

In other news, EVP Jason Blacksberg sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Acadia Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Acadia Realty Trust by 91.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 717 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Acadia Realty Trust in the 4th quarter valued at $46,000. Sterling Capital Management LLC grew its stake in Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 3,344 shares during the period. USA Financial Formulas increased its stake in Acadia Realty Trust by 14.4% during the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 489 shares in the last quarter. Finally, KBC Group NV lifted its stake in Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,448 shares in the last quarter. 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.