Acadia Realty Trust (NYSE:AKR) Receives $18.40 Consensus PT from Brokerages

Shares of Acadia Realty Trust (NYSE:AKR) have been given a consensus rating of “Hold” by the five research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.40.

Several research analysts have recently issued reports on AKR shares. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Wednesday, June 26th. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th.

Acadia Realty Trust Stock Up 2.8 %

Shares of NYSE AKR opened at $20.44 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. Acadia Realty Trust has a one year low of $13.24 and a one year high of $20.48. The stock has a market capitalization of $2.11 billion, a P/E ratio of 255.50, a PEG ratio of 5.24 and a beta of 1.46. The firm’s 50 day simple moving average is $17.97 and its two-hundred day simple moving average is $17.27.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The firm had revenue of $91.36 million during the quarter, compared to the consensus estimate of $69.75 million. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 900.00%.

Insider Activity at Acadia Realty Trust

In related news, VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.10, for a total value of $427,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Acadia Realty Trust news, VP Richard Hartmann sold 25,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John J. Gottfried sold 12,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total value of $211,125.00. Following the transaction, the chief financial officer now directly owns 7,600 shares of the company’s stock, valued at approximately $128,364. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Acadia Realty Trust by 32.7% in the 2nd 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 purchased a new position in shares of Acadia Realty Trust in the 1st quarter worth about $58,000. SG Americas Securities LLC purchased a new position in shares of Acadia Realty Trust in the 2nd quarter worth about $103,000. Federated Hermes Inc. raised its position in shares of Acadia Realty Trust by 113.1% in the 4th quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 3,715 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Acadia Realty Trust by 8.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 740 shares during the last quarter. Hedge funds and other 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.