Acadia Realty Trust (NYSE:AKR) Reaches New 1-Year High – Here’s What Happened

Acadia Realty Trust (NYSE:AKR) hit a new 52-week high on Monday . The company traded as high as $25.61 and last traded at $25.57, with a volume of 185609 shares changing hands. The stock had previously closed at $25.22.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AKR shares. Truist Financial boosted their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Acadia Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Stock Up 1.5 %

The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 283.56, a price-to-earnings-growth ratio of 6.37 and a beta of 1.46. 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 stock has a 50-day moving average of $23.97 and a 200-day moving average of $21.02.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $70.88 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 2.97%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 1,192,138 shares during the period. FMR LLC lifted its holdings in shares of Acadia Realty Trust by 290.3% in 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 buying an additional 7,124,403 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $150,511,000 after buying an additional 388,067 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Acadia Realty Trust by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after buying an additional 63,672 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Acadia Realty Trust by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust’s stock valued at $45,331,000 after buying an additional 83,180 shares during the period. Institutional investors and hedge funds 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.