Acadia Realty Trust (NYSE:AKR) Stock Rating Lowered by StockNews.com

Acadia Realty Trust (NYSE:AKR) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other equities analysts have also issued reports on AKR. Truist Financial raised their target price 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. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. upgraded 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Acadia Realty Trust has an average rating of “Hold” and an average price target of $21.60.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $24.35 on Monday. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $24.60. The stock has a fifty day moving average price of $22.53 and a 200-day moving average price of $19.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.51 billion, a PE ratio of 304.31, a P/E/G ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS 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 business had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acadia Realty Trust

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of 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 valued at $42,000 after acquiring an additional 572 shares during the period. USA Financial Formulas acquired a new stake in shares of Acadia Realty Trust during the 3rd quarter valued at about $80,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Acadia Realty Trust during the 1st quarter valued at about $58,000. SG Americas Securities LLC acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter valued at about $103,000. Finally, Ameritas Investment Partners Inc. grew its position in shares of 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 valued at $171,000 after acquiring an additional 740 shares during the period. 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.