Shares of Acadia Realty Trust (NYSE:AKR – Get Free Report) have received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.80.
A number of equities research analysts recently issued reports on AKR shares. Truist Financial initiated coverage on Acadia Realty Trust in a research note on Thursday, October 1st. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings lowered shares of Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Wall Street Zen lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. KeyCorp reissued an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. Finally, Citigroup raised their target price on Acadia Realty Trust from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd.
Get Our Latest Stock Report on Acadia Realty Trust
Hedge Funds Weigh In On Acadia Realty Trust
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Acadia Realty Trust by 0.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 255,679 shares of the real estate investment trust’s stock valued at $4,791,000 after acquiring an additional 1,182 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Acadia Realty Trust by 56.0% in the third quarter. Maryland State Retirement & Pension System now owns 30,465 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 10,931 shares during the period. Salomon & Ludwin LLC grew its position in Acadia Realty Trust by 145.1% during the third quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 969 shares in the last quarter. State of Wyoming increased its stake in shares of Acadia Realty Trust by 54.1% in the third quarter. State of Wyoming now owns 19,892 shares of the real estate investment trust’s stock worth $373,000 after purchasing an additional 6,987 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Acadia Realty Trust by 49.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,032 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 1,326 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.
Acadia Realty Trust Price Performance
AKR stock opened at $19.77 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $19.18 and its two-hundred day moving average price is $20.58. Acadia Realty Trust has a 12-month low of $17.96 and a 12-month high of $23.03. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 70.62, a PEG ratio of 2.11 and a beta of 1.11.
Acadia Realty Trust (NYSE:AKR – Get Free Report) last announced its earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.34). Acadia Realty Trust had a net margin of 10.23% and a return on equity of 1.54%. The company had revenue of $94.98 million for the quarter, compared to the consensus estimate of $94.38 million. During the same period last year, the business posted $0.03 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts predict that Acadia Realty Trust will post 1.25 earnings per share for the current year.
Acadia Realty Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 31st. Acadia Realty Trust’s dividend payout ratio is presently 285.71%.
About Acadia Realty Trust
Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.
The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.
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