Acadia Realty Trust (NYSE:AKR) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report released on Friday.

A number of other equities research analysts have also issued reports on the company. Compass Point raised their price target on Acadia Realty Trust from $22.00 to $23.00 and gave the stock a neutral rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 target price for the company in a research note on Wednesday, June 26th. Finally, Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Acadia Realty Trust presently has an average rating of Hold and a consensus price target of $20.80.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $22.71 on Friday. The firm has a market capitalization of $2.34 billion, a PE ratio of 284.25, a PEG ratio of 5.85 and a beta of 1.47. The stock’s fifty day moving average is $21.55 and its 200 day moving average is $18.64. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm had revenue of $87.25 million during the quarter, compared to analysts’ expectations of $70.16 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.19 dividend. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, September 30th. Acadia Realty Trust’s payout ratio is presently 950.00%.

Institutional Trading of Acadia Realty Trust

Hedge funds have recently bought and sold shares of the stock. Cohen & Steers Inc. raised its position in shares of Acadia Realty Trust by 5.2% in the 4th quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Acadia Realty Trust by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock valued at $143,741,000 after buying an additional 223,215 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Acadia Realty Trust by 7.7% in the 1st 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 in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Acadia Realty Trust by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock worth $930,000 after buying an additional 1,200 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of Acadia Realty Trust during the 1st quarter worth approximately $260,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.