Acadia Realty Trust (NYSE:AKR) Rating Lowered to “Sell” at StockNews.com

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

Other equities research analysts have also issued reports about the stock. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial lifted their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Acadia Realty Trust presently has an average rating of “Hold” and an average price target of $21.60.

Acadia Realty Trust Stock Up 0.7 %

Shares of AKR stock opened at $25.18 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. Acadia Realty Trust has a one year low of $14.06 and a one year high of $25.58. The company’s fifty day moving average price is $23.57 and its 200-day moving average price is $20.53. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 279.78, a PEG ratio of 6.32 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Acadia Realty Trust’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Acadia Realty Trust during the first quarter worth approximately $58,000. USA Financial Formulas purchased a new stake in Acadia Realty Trust during the third quarter valued at approximately $80,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Acadia Realty Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Acadia Realty Trust in the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.