Brokerages Set Acadia Realty Trust (NYSE:AKR) Target Price at $22.40

Shares of Acadia Realty Trust (NYSE:AKR) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.40.

A number of research firms have recently weighed in on AKR. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial lifted their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, 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 research note on Thursday, October 10th.

Acadia Realty Trust Stock Up 1.0 %

AKR stock opened at $24.10 on Wednesday. The business’s 50-day moving average is $24.86 and its two-hundred day moving average is $22.28. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 267.78, a P/E/G ratio of 6.41 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14.

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

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AKR. FMR LLC lifted its position in Acadia Realty Trust by 290.3% during the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares during the last quarter. APG Asset Management US Inc. purchased a new position in Acadia Realty Trust in the second quarter worth about $18,070,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Acadia Realty Trust by 381.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 656,795 shares of the real estate investment trust’s stock worth $15,422,000 after acquiring an additional 520,319 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Acadia Realty Trust during the second quarter worth approximately $5,090,000. Finally, Renaissance Technologies LLC raised its position in Acadia Realty Trust by 173.8% during the second quarter. Renaissance Technologies LLC now owns 264,801 shares of the real estate investment trust’s stock valued at $4,745,000 after purchasing an additional 168,100 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.