Acadia Realty Trust (NYSE:AKR) Short Interest Up 233.6% in October

Acadia Realty Trust (NYSE:AKR) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 8,340,000 shares, an increase of 233.6% from the September 30th total of 2,500,000 shares. Based on an average trading volume of 895,700 shares, the short-interest ratio is currently 9.3 days.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AKR shares. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Compass Point raised 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. Finally, StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.60.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of AKR. abrdn plc increased its stake in Acadia Realty Trust by 10.0% in the 3rd quarter. abrdn plc now owns 21,535 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 1,954 shares during the last quarter. Custom Index Systems LLC purchased a new position in shares of Acadia Realty Trust during the third quarter worth about $202,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 35.0% during 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 purchasing an additional 1,039 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Acadia Realty Trust by 2.5% in the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 582 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in Acadia Realty Trust in the third quarter valued at approximately $80,000. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of AKR stock traded down $0.26 during trading on Friday, reaching $24.01. 562,600 shares of the company’s stock traded hands, compared to its average volume of 980,706. The firm’s 50-day moving average is $22.95 and its 200 day moving average is $19.85. The company has a market capitalization of $2.53 billion, a P/E ratio of 20.34, a PEG ratio of 6.30 and a beta of 1.47. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $24.75. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. During the same period in the previous year, the business earned $0.36 earnings per share. Acadia Realty Trust’s revenue was down 3.0% on a year-over-year basis. Equities research analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.19 dividend. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, September 30th.

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.