Acadia Realty Trust (NYSE:AKR) Receives $22.40 Average Target Price from Brokerages

Acadia Realty Trust (NYSE:AKR) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.40.

A number of brokerages have issued reports on AKR. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial lifted their target price on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock opened at $23.89 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 52 week low of $16.09 and a 52 week high of $26.29. The stock’s 50-day simple moving average is $24.87 and its 200-day simple moving average is $22.15. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 265.44, a PEG ratio of 6.41 and a beta of 1.46.

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

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is 844.44%.

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. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust in the 3rd quarter worth approximately $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 1,039 shares during the last quarter. SG Americas Securities LLC purchased a new position in Acadia Realty Trust during the second quarter worth $103,000. Custom Index Systems LLC bought a new position in Acadia Realty Trust during the third quarter valued at $202,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Acadia Realty Trust in the third quarter valued at $202,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

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.