Zacks Research Downgrades Acadia Realty Trust (NYSE:AKR) to Strong Sell

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

A number of other brokerages also recently issued reports on AKR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a report on Saturday, September 27th. LADENBURG THALM/SH SH assumed coverage on Acadia Realty Trust in a report on Tuesday, September 9th. They issued a “neutral” rating and a $21.00 price target for the company. Wall Street Zen raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Citigroup raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a report on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.50.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $20.00 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $19.60 and a 200-day simple moving average of $19.45. The stock has a market cap of $2.62 billion, a P/E ratio of 124.98, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. Acadia Realty Trust has a 12-month low of $16.98 and a 12-month high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to analyst estimates of $81.89 million. Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Equities analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Acadia Realty Trust

Several large investors have recently modified their holdings of AKR. Hantz Financial Services Inc. boosted its holdings in shares of Acadia Realty Trust by 189.5% in the second quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 902 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Acadia Realty Trust by 32.8% in the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 547 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Acadia Realty Trust during the second quarter worth $47,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Acadia Realty Trust by 342.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 2,309 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Acadia Realty Trust by 57.7% during the second quarter. GAMMA Investing LLC now owns 5,120 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 1,873 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

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.