Acadia Realty Trust (NYSE:AKR) Stock Rating Upgraded by StockNews.com

Acadia Realty Trust (NYSE:AKR) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts also recently issued reports on AKR. Compass Point boosted their price target on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Truist Financial upped their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a research note on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.80.

Acadia Realty Trust Stock Up 0.8 %

Shares of NYSE:AKR opened at $23.16 on Friday. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $23.37. The company’s fifty day moving average is $21.95 and its two-hundred day moving average is $18.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 289.50, a price-to-earnings-growth ratio of 5.98 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results 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). The business had revenue of $87.25 million during the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. Equities analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in AKR. Texas Permanent School Fund Corp raised its holdings in Acadia Realty Trust by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock worth $1,614,000 after buying an additional 531 shares during the period. GAMMA Investing LLC lifted 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 valued at $42,000 after acquiring an additional 572 shares in the last quarter. Arizona State Retirement System boosted its stake in Acadia Realty Trust by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 724 shares during the period. Ameritas Investment Partners Inc. grew its position in Acadia Realty Trust by 8.0% during 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 in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Acadia Realty Trust by 5.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,619 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 932 shares during the period. 97.65% of the stock is currently owned by institutional investors.

About Acadia Realty Trust

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.