Acadia Realty Trust (NYSE:AKR) PT Raised to $23.00

Acadia Realty Trust (NYSE:AKR) had its price objective raised by Compass Point from $22.00 to $23.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Compass Point’s target price would suggest a potential upside of 2.13% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target for the company in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Acadia Realty Trust presently has a consensus rating of “Hold” and an average target price of $20.80.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $22.52 on Tuesday. The company has a market cap of $2.32 billion, a P/E ratio of 281.50, a P/E/G ratio of 5.77 and a beta of 1.47. The stock’s 50-day moving average is $21.04 and its 200-day moving average is $18.39. Acadia Realty Trust has a 52-week low of $13.24 and a 52-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 issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.30). The business had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. Equities research analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of AKR. Texas Permanent School Fund Corp grew its holdings in Acadia Realty Trust by 0.6% during 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 acquiring an additional 531 shares during the period. GAMMA Investing LLC grew its holdings in Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 572 shares during the period. Arizona State Retirement System grew its holdings in 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 worth $517,000 after acquiring an additional 724 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Acadia Realty Trust by 8.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 740 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in Acadia Realty Trust by 5.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,619 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 932 shares during the period. Institutional investors and hedge funds 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.