Zacks Investment Research Lowers Acadia Realty Trust (NYSE:AKR) to Sell

Acadia Realty Trust (NYSE:AKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

Separately, Compass Point initiated coverage on Acadia Realty Trust in a research note on Thursday, August 15th. They issued a “buy” rating and a $30.00 target price on the stock.

Shares of Acadia Realty Trust stock traded down $0.05 on Tuesday, hitting $26.36. The company had a trading volume of 436,326 shares, compared to its average volume of 458,592. Acadia Realty Trust has a 52 week low of $23.11 and a 52 week high of $29.82. The business has a 50-day simple moving average of $27.82 and a 200-day simple moving average of $27.94. The company has a market cap of $2.34 billion, a PE ratio of 19.53, a PEG ratio of 3.64 and a beta of 0.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.53 and a quick ratio of 0.53.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.21). Acadia Realty Trust had a net margin of 13.42% and a return on equity of 1.82%. The firm had revenue of $72.19 million for the quarter, compared to analyst estimates of $61.66 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, equities research analysts predict that Acadia Realty Trust will post 1.42 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Quest Capital Management Inc. ADV acquired a new stake in shares of Acadia Realty Trust during the third quarter worth $77,000. Tower Research Capital LLC TRC lifted its holdings in shares of Acadia Realty Trust by 11.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,444 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 461 shares in the last quarter. Redpoint Investment Management Pty Ltd bought a new stake in shares of Acadia Realty Trust in the second quarter valued at about $201,000. Royal Bank of Canada lifted its holdings in shares of Acadia Realty Trust by 114.3% in the second quarter. Royal Bank of Canada now owns 7,403 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 3,949 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Acadia Realty Trust by 251.6% during the second quarter. Bank of Montreal Can now owns 9,747 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 6,975 shares during the period.

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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

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