Acadia Realty Trust (NYSE:AKR) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Acadia Realty Trust (NYSE:AKR) have been assigned a consensus rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.33.

Separately, Zacks Investment Research cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 27th.

In other news, VP Jason Blacksberg sold 1,500 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $23.20, for a total value of $34,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lorrence T. Kellar sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $20.72, for a total value of $51,800.00. Following the completion of the sale, the director now owns 47,861 shares in the company, valued at approximately $991,679.92. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock valued at $223,460 in the last three months. 2.68% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKR. First Trust Advisors LP grew its stake in Acadia Realty Trust by 53.0% in the first quarter. First Trust Advisors LP now owns 75,406 shares of the real estate investment trust’s stock valued at $2,056,000 after purchasing an additional 26,111 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Acadia Realty Trust in the first quarter valued at $210,000. Ameriprise Financial Inc. increased its holdings in Acadia Realty Trust by 43.8% during the first quarter. Ameriprise Financial Inc. now owns 538,521 shares of the real estate investment trust’s stock worth $10,217,000 after buying an additional 163,941 shares during the last quarter. Jane Street Group LLC acquired a new position in Acadia Realty Trust during the first quarter worth $1,081,000. Finally, Amundi Asset Management US Inc. raised its position in Acadia Realty Trust by 78.1% during the first quarter. Amundi Asset Management US Inc. now owns 89,807 shares of the real estate investment trust’s stock worth $1,704,000 after acquiring an additional 39,368 shares in the last quarter. Institutional investors and hedge funds own 99.98% of the company’s stock.

AKR traded up $0.27 during mid-day trading on Thursday, hitting $22.44. The stock had a trading volume of 289,323 shares, compared to its average volume of 620,869. The stock’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $21.56. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 204.02, a price-to-earnings-growth ratio of 2.84 and a beta of 1.42. Acadia Realty Trust has a 1-year low of $13.48 and a 1-year high of $23.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.96 and a quick ratio of 0.96.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Friday, December 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, December 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 545.50%.

About Acadia Realty Trust

Acadia Realty Trust is a real estate investment trust, which engages in delivering operating platforms and investment strategy. It operates through the following business segments: Core Portfolio, Funds, and Structured Financing. The Core Portfolio segment consists of retail properties. The Funds segment handles retail real estate.

Read More: Sell-Side Analysts

Analyst Recommendations for Acadia Realty Trust (NYSE:AKR)

Receive News & Ratings for Acadia Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acadia Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.