Acadia Realty Trust (NYSE:AKR) Short Interest Up 23.2% in December

Acadia Realty Trust (NYSE:AKR) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 10,180,000 shares, a growth of 23.2% from the November 30th total of 8,260,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is presently 7.6 days.

Acadia Realty Trust Stock Performance

NYSE AKR traded up $0.33 during trading hours on Tuesday, hitting $24.13. 85,020 shares of the company’s stock traded hands, compared to its average volume of 1,073,613. The company has a current ratio of 1.14, a quick 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 firm has a market capitalization of $2.89 billion, a P/E ratio of 268.11, a P/E/G ratio of 6.41 and a beta of 1.46. The business’s fifty day moving average price is $24.83 and its two-hundred day moving average price is $22.48.

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

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Acadia Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $22.40.

Institutional Investors Weigh In On Acadia Realty Trust

Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after purchasing an additional 7,124,403 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock worth $62,033,000 after buying an additional 63,672 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Acadia Realty Trust by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust’s stock valued at $45,331,000 after buying an additional 83,180 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Acadia Realty Trust by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock valued at $26,337,000 after acquiring an additional 75,233 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Acadia Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock worth $21,090,000 after acquiring an additional 8,739 shares in the last quarter. 97.65% of the stock is owned by institutional investors.

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.