Acadia Realty Trust (NYSE:AKR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Acadia Realty Trust (NYSE:AKR) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.80.

A number of research firms have recently commented on AKR. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Compass Point boosted their price target on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective on the stock in a research report on Wednesday, June 26th. Finally, Truist Financial boosted 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.

Hedge Funds Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of AKR. Norges Bank bought a new position in Acadia Realty Trust during the 4th quarter valued at approximately $10,414,000. US Bancorp DE raised its holdings in shares of Acadia Realty Trust by 3,537.2% during the fourth quarter. US Bancorp DE now owns 35,936 shares of the real estate investment trust’s stock valued at $611,000 after acquiring an additional 34,948 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Acadia Realty Trust by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after acquiring an additional 776,121 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Acadia Realty Trust by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock valued at $143,741,000 after acquiring an additional 223,215 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Acadia Realty Trust during the 1st quarter valued at $58,000. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $22.91 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $2.36 billion, a PE ratio of 286.38, a price-to-earnings-growth ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $23.56. The company has a 50-day simple moving average of $22.30 and a 200 day simple moving average of $19.26.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (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 firm had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts predict that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 3.32%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio is presently 950.00%.

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.