Acadia Realty Trust (NYSE:AKR) Sees Large Decrease in Short Interest

Acadia Realty Trust (NYSE:AKR) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,500,000 shares, a decline of 5.3% from the September 15th total of 2,640,000 shares. Based on an average daily trading volume, of 872,600 shares, the short-interest ratio is presently 2.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AKR. GAMMA Investing LLC raised 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 valued at $42,000 after buying 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 valued at $58,000. USA Financial Formulas acquired a new position in Acadia Realty Trust during the 3rd quarter worth $80,000. SG Americas Securities LLC bought a new position in shares of Acadia Realty Trust in the second quarter worth $103,000. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Acadia Realty Trust by 8.0% during the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 740 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR opened at $24.65 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $22.60 and its two-hundred day moving average price is $19.54. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $24.73. The stock has a market capitalization of $2.54 billion, a P/E ratio of 308.13, a P/E/G ratio of 6.04 and a beta of 1.47.

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

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.08%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 950.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on AKR. Truist Financial raised their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. 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. Finally, StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.60.

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.