Acadia Realty Trust (NYSE:AKR) Receives Average Recommendation of “Hold” from Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $22.3333.

AKR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Citigroup raised their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Truist Financial reduced their price target on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Finally, Wall Street Zen cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st.

Institutional Trading of Acadia Realty Trust

Several institutional investors have recently modified their holdings of AKR. Hantz Financial Services Inc. boosted its holdings in shares of Acadia Realty Trust by 189.5% in the second quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 902 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Acadia Realty Trust by 32.8% during the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 547 shares during the period. Danske Bank A S lifted its position in shares of Acadia Realty Trust by 600.0% in the 4th quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,800 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Acadia Realty Trust in the 2nd quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Acadia Realty Trust by 342.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 2,309 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

AKR traded down $0.11 during trading hours on Monday, hitting $20.82. The company’s stock had a trading volume of 67,150 shares, compared to its average volume of 1,313,254. The company has a 50-day simple moving average of $20.59 and a 200 day simple moving average of $20.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $2.73 billion, a PE ratio of 231.80, a PEG ratio of 2.09 and a beta of 1.09. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $23.45.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). The business had revenue of $104.77 million for the quarter, compared to analyst estimates of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. As a group, sell-side analysts expect that Acadia Realty Trust will post 1.34 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.