Acadia Realty Trust (NYSE:AKR) Rating Increased to Hold at StockNews.com

Acadia Realty Trust (NYSE:AKR) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Other analysts also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Acadia Realty Trust presently has an average rating of “Moderate Buy” and an average price target of $21.60.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $24.60 on Friday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 273.33, a PEG ratio of 6.25 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50-day simple moving average of $23.74 and a 200 day simple moving average of $20.69. Acadia Realty Trust has a 52 week low of $14.62 and a 52 week high of $25.58.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. On average, sell-side analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position 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 buying an additional 572 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Acadia Realty Trust in the 3rd quarter valued at approximately $80,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Acadia Realty Trust in the 1st quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Acadia Realty Trust by 35.0% in the 3rd 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 buying an additional 1,039 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Acadia Realty Trust in the 2nd quarter valued at approximately $103,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.

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.