Acadia Realty Trust (NYSE:AKR) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Acadia Realty Trust (NYSE:AKR) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.75 and traded as high as $23.60. Acadia Realty Trust shares last traded at $23.07, with a volume of 1,137,283 shares traded.

Wall Street Analysts Forecast Growth

AKR has been the subject of several analyst reports. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial increased their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.00.

Acadia Realty Trust Price Performance

The firm has a market capitalization of $2.74 billion, a P/E ratio of 254.22, a price-to-earnings-growth ratio of 6.41 and a beta of 1.47. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $24.73 and a 200-day moving average price of $22.75.

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 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 during the quarter, compared to analysts’ expectations of $70.88 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect 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. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

Large investors have recently modified their holdings of the business. Natixis Advisors LLC boosted its holdings in shares of Acadia Realty Trust by 22.7% in the 2nd quarter. Natixis Advisors LLC now owns 27,321 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 5,048 shares in the last quarter. Rhumbline Advisers grew its holdings in Acadia Realty Trust by 2.6% in the second quarter. Rhumbline Advisers now owns 345,377 shares of the real estate investment trust’s stock worth $6,189,000 after purchasing an additional 8,596 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Acadia Realty Trust by 14.4% during the second quarter. Victory Capital Management Inc. now owns 151,036 shares of the real estate investment trust’s stock worth $2,707,000 after purchasing an additional 19,023 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Acadia Realty Trust by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 724 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of Acadia Realty Trust by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock worth $1,614,000 after purchasing an additional 531 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.