Acadia Realty Trust (NYSE:AKR) Receives $20.80 Average Target Price from Brokerages

Acadia Realty Trust (NYSE:AKR) has received a consensus rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.80.

AKR has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised 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. Compass Point increased their price target on Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th.

Institutional Investors Weigh In On Acadia Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. GAMMA Investing LLC raised its position in Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 572 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust in the first quarter worth approximately $58,000. SG Americas Securities LLC purchased a new stake in shares of Acadia Realty Trust in the second quarter worth approximately $103,000. Ameritas Investment Partners Inc. raised its holdings in shares of Acadia Realty Trust by 8.0% in the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 740 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Acadia Realty Trust in the second quarter worth approximately $186,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $23.00 on Friday. The stock has a 50-day simple moving average of $22.23 and a two-hundred day simple moving average of $19.16. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $23.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $2.37 billion, a PE ratio of 287.50, a P/E/G ratio of 5.98 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The business had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. Analysts forecast that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.30%. Acadia Realty Trust’s dividend payout ratio is 950.00%.

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.