Short Interest in Acadia Realty Trust (NYSE:AKR) Rises By 115.5%

Acadia Realty Trust (NYSE:AKR) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 6,120,000 shares, a growth of 115.5% from the October 31st total of 2,840,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 5.9 days.

Hedge Funds Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 572 shares during the last quarter. USA Financial Formulas purchased a new stake in Acadia Realty Trust in the third quarter valued at $80,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Acadia Realty Trust during the 2nd quarter worth about $103,000. Finally, Algert Global LLC purchased a new position in shares of Acadia Realty Trust during the 2nd quarter valued at about $186,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock traded up $0.45 during mid-day trading on Thursday, reaching $26.08. 1,323,420 shares of the company traded hands, compared to its average volume of 1,018,394. The firm’s fifty day moving average is $24.15 and its two-hundred day moving average is $21.17. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 289.78, a price-to-earnings-growth ratio of 6.47 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $14.74 and a fifty-two week high of $26.16. 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 (NYSE:AKR) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same period in the previous year, the company earned $0.27 earnings per share. Acadia Realty Trust’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

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 issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is 844.44%.

Analyst Upgrades and Downgrades

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

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.