Acadia Realty Trust (NYSE:AKR – Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,370,000 shares, a growth of 10.1% from the March 31st total of 3,060,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is presently 2.9 days.
Acadia Realty Trust Stock Down 1.1 %
AKR opened at $17.09 on Thursday. The firm has a 50-day simple moving average of $16.75 and a two-hundred day simple moving average of $16.25. Acadia Realty Trust has a 52 week low of $12.37 and a 52 week high of $17.90. The company has a market capitalization of $1.76 billion, a PE ratio of 216.25, a price-to-earnings-growth ratio of 11.75 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.
Acadia Realty Trust (NYSE:AKR – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.
Acadia Realty Trust Announces Dividend
Analysts Set New Price Targets
AKR has been the subject of several recent analyst reports. Truist Financial downgraded shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Tuesday, January 16th. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.
Get Our Latest Research Report on AKR
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Capstone Investment Advisors LLC bought a new position in shares of Acadia Realty Trust in the 1st quarter valued at about $260,000. BNP Paribas Financial Markets lifted its holdings in shares of Acadia Realty Trust by 80.1% in the 1st quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock valued at $941,000 after acquiring an additional 24,609 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Acadia Realty Trust in the 1st quarter valued at about $58,000. Principal Financial Group Inc. lifted its holdings in shares of Acadia Realty Trust by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 580,469 shares of the real estate investment trust’s stock valued at $9,874,000 after acquiring an additional 83,794 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Acadia Realty Trust by 6.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 50,700 shares of the real estate investment trust’s stock valued at $862,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.
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.
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