Acadia Realty Trust (NYSE:AKR) Short Interest Up 21.7% in December

Acadia Realty Trust (NYSE:AKR) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 12,390,000 shares, an increase of 21.7% from the December 15th total of 10,180,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 9.2 days.

Acadia Realty Trust Stock Down 1.1 %

AKR opened at $22.64 on Friday. Acadia Realty Trust has a 12 month low of $16.09 and a 12 month high of $26.29. 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 business’s 50-day moving average price is $24.42 and its 200-day moving average price is $22.99. The company has a market cap of $2.71 billion, a P/E ratio of 251.59, a P/E/G ratio of 5.34 and a beta of 1.47.

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

Acadia Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in Acadia Realty Trust by 27.7% during the 4th quarter. SG Americas Securities LLC now owns 38,378 shares of the real estate investment trust’s stock valued at $927,000 after purchasing an additional 8,322 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth approximately $297,000. USA Financial Formulas increased its stake in shares of Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 489 shares during the period. Geode Capital Management LLC raised its holdings in shares of Acadia Realty Trust by 2.5% during the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after acquiring an additional 63,672 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in Acadia Realty Trust by 2.7% in the third quarter. Vestcor Inc now owns 92,672 shares of the real estate investment trust’s stock valued at $2,176,000 after acquiring an additional 2,407 shares in the last quarter. 97.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AKR shares. Compass Point raised shares of 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 report on Thursday, October 10th. Truist Financial lifted their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.00.

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.