Acadia Realty Trust (NYSE:AKR) Cut to Sell at StockNews.com

StockNews.com lowered shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report released on Monday.

AKR has been the topic of several other reports. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective on the stock in a research note on Wednesday, June 26th. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial increased their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.60.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR opened at $24.65 on Monday. Acadia Realty Trust has a one year low of $13.24 and a one year high of $24.73. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $22.60 and a 200 day simple moving average of $19.54. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 308.13, a PEG ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The business had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. During the same quarter in the prior year, the company posted $0.36 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts expect that Acadia Realty Trust will post 1.29 EPS for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.08%. Acadia Realty Trust’s dividend payout ratio is 950.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors have recently bought and sold shares of AKR. GAMMA Investing LLC grew its holdings in shares of Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Acadia Realty Trust during the 1st quarter worth about $58,000. USA Financial Formulas acquired a new stake in Acadia Realty Trust in the 3rd quarter valued at about $80,000. SG Americas Securities LLC acquired a new stake in Acadia Realty Trust in the 2nd quarter valued at about $103,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Acadia Realty Trust by 8.0% in the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 740 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.