Analysts Set Acadia Realty Trust (NYSE:AKR) Price Target at $21.60

Shares of Acadia Realty Trust (NYSE:AKR) have received an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $21.60.

Several research analysts have issued reports on AKR shares. 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 report on Wednesday, August 28th. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday.

Institutional Investors Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Acadia Realty Trust by 7.7% during the first quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Acadia Realty Trust by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust’s stock valued at $150,511,000 after buying an additional 388,067 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in 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 period. Capstone Investment Advisors LLC purchased a new stake in Acadia Realty Trust in the 1st quarter worth $260,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Acadia Realty Trust by 1.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 136,073 shares of the real estate investment trust’s stock valued at $2,234,000 after acquiring an additional 2,290 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Stock Down 0.4 %

AKR opened at $24.49 on Tuesday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 272.06, a PEG ratio of 6.30 and a beta of 1.47. The firm has a 50 day moving average price of $23.24 and a 200-day moving average price of $20.11. Acadia Realty Trust has a twelve month low of $13.48 and a twelve month high of $24.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same period in the previous year, the company earned $0.27 earnings per share. Acadia Realty Trust’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Acadia Realty Trust will post 1.29 earnings per share for the current year.

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.