Short Interest in Acadia Realty Trust (NYSE:AKR) Increases By 115.5%

Acadia Realty Trust (NYSE:AKR) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 6,120,000 shares, an increase of 115.5% from the October 31st total of 2,840,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 5.9 days.

Acadia Realty Trust Stock Performance

NYSE AKR traded down $0.23 during trading on Friday, reaching $25.85. 734,203 shares of the company’s stock were exchanged, compared to its average volume of 1,017,164. Acadia Realty Trust has a fifty-two week low of $14.74 and a fifty-two week high of $26.29. The stock has a market capitalization of $3.09 billion, a P/E ratio of 287.22, a PEG ratio of 6.59 and a beta of 1.46. The business has a 50 day moving average price of $24.28 and a 200-day moving average price of $21.27. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results 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 net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. During the same quarter last year, the company posted $0.27 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 844.44%.

Analyst Ratings Changes

A number of research firms recently issued reports on AKR. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Truist Financial increased their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. grew its position in shares of Acadia Realty Trust by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 158,663 shares of the real estate investment trust’s stock valued at $3,725,000 after purchasing an additional 476 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Acadia Realty Trust by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock valued at $1,614,000 after buying an additional 531 shares in the last quarter. GAMMA Investing LLC increased its position in Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 572 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Acadia Realty Trust by 2.5% during the third quarter. IFM Investors Pty Ltd now owns 23,795 shares of the real estate investment trust’s stock worth $559,000 after buying an additional 582 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Acadia Realty Trust by 2.6% in the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 724 shares during the period. 97.65% of the stock is owned by institutional investors.

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.