Acadia Realty Trust (NYSE:AKR) Short Interest Update

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

Institutional Trading of Acadia Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas purchased a new stake in shares of Acadia Realty Trust during the third quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Acadia Realty Trust by 35.0% in the 3rd 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. Custom Index Systems LLC acquired a new position in shares of Acadia Realty Trust during the 3rd quarter worth approximately $202,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Acadia Realty Trust in the third quarter valued at approximately $202,000. Finally, Algert Global LLC purchased a new position in Acadia Realty Trust during the second quarter worth approximately $186,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded up $0.36 during midday trading on Tuesday, reaching $24.16. The company had a trading volume of 356,614 shares, compared to its average volume of 1,074,614. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29. The business’s 50-day simple moving average is $24.83 and its 200 day simple moving average is $22.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.89 billion, a P/E ratio of 268.44, a P/E/G ratio of 6.41 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last released 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). 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 analyst estimates of $70.88 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have commented on AKR shares. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial lifted their target price on Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.40.

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.