Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,500,000 shares, a decline of 5.3% from the September 15th total of 2,640,000 shares. Based on an average trading volume of 872,600 shares, the short-interest ratio is currently 2.9 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AKR. Vanguard Group Inc. raised 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 worth $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Acadia Realty Trust during the 1st quarter valued at $18,139,000. APG Asset Management US Inc. bought a new stake in shares of Acadia Realty Trust during the 2nd quarter worth $18,070,000. Price T Rowe Associates Inc. MD boosted 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 worth $150,511,000 after acquiring an additional 388,067 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Acadia Realty Trust in the 2nd quarter worth $5,090,000. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Down 0.8 %

Shares of NYSE:AKR opened at $24.45 on Friday. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $24.73. The company’s fifty day moving average is $22.66 and its two-hundred day moving average is $19.58. 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 stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 305.63, a price-to-earnings-growth ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly 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). The company had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Equities analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is 950.00%.

Analyst Ratings Changes

A number of research analysts have weighed in on AKR shares. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Wednesday, June 26th. Finally, Truist Financial increased 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Acadia Realty Trust has a consensus rating of “Hold” and a consensus price target of $21.60.

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.