Zacks Investment Research Downgrades Acadia Realty Trust (NYSE:AKR) to Sell

Zacks Investment Research lowered shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

Other equities analysts have also issued reports about the stock. Citigroup set a $98.00 price target on shares of Reliance Steel & Aluminum and gave the stock a hold rating in a research report on Monday, May 20th. ValuEngine lowered shares of Welbilt from a hold rating to a sell rating in a research report on Wednesday, June 12th.

AKR opened at $27.74 on Tuesday. Acadia Realty Trust has a 12-month low of $23.11 and a 12-month high of $29.82. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.30 and a beta of 0.68. The stock’s 50 day simple moving average is $27.87.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.22). Acadia Realty Trust had a return on equity of 1.71% and a net margin of 13.17%. The business had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $51.36 million. During the same period in the prior year, the business posted $0.33 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Acadia Realty Trust will post 1.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, June 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is 82.96%.

In other news, VP Jason Blacksberg sold 2,477 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $28.86, for a total transaction of $71,486.22. Following the completion of the transaction, the vice president now directly owns 2,477 shares of the company’s stock, valued at approximately $71,486.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher Conlon sold 20,000 shares of Acadia Realty Trust stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $27.83, for a total transaction of $556,600.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $278,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,574 shares of company stock valued at $801,806. Insiders own 2.47% of the company’s stock.

Large investors have recently bought and sold shares of the company. Private Capital Group LLC increased its holdings in Acadia Realty Trust by 31.5% in the 1st quarter. Private Capital Group LLC now owns 2,683 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 643 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Acadia Realty Trust by 3,884.3% in the 1st quarter. Quadrant Capital Group LLC now owns 3,307 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 3,224 shares in the last quarter. Advisor Group Inc. increased its holdings in Acadia Realty Trust by 221.1% in the 4th quarter. Advisor Group Inc. now owns 7,379 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 5,081 shares in the last quarter. Pearl River Capital LLC increased its holdings in Acadia Realty Trust by 3,138.0% in the 1st quarter. Pearl River Capital LLC now owns 6,476 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 6,276 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Acadia Realty Trust in the 4th quarter worth $208,000.

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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

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