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

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

AKR has been the subject of a number of other reports. Truist Financial raised their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.60.

Acadia Realty Trust Trading Up 0.4 %

Shares of AKR opened at $25.43 on Monday. Acadia Realty Trust has a 1 year low of $15.48 and a 1 year high of $26.29. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $24.38 and a 200-day simple moving average of $21.44. The stock has a market cap of $3.04 billion, a PE ratio of 281.56, a PEG ratio of 6.48 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 2.99%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Acadia Realty Trust by 290.3% in the 3rd quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust’s stock valued at $224,910,000 after buying an additional 7,124,403 shares during the period. Geode Capital Management LLC increased its stake in shares of Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock valued at $62,033,000 after buying an additional 63,672 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Acadia Realty Trust by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust’s stock worth $45,331,000 after purchasing an additional 83,180 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Acadia Realty Trust by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust’s stock worth $26,337,000 after purchasing an additional 75,233 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Acadia Realty Trust by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock worth $21,090,000 after purchasing an additional 8,739 shares during the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

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.