Acadia Realty Trust (NYSE:AKR) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Acadia Realty Trust (NYSE:AKR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.21 and traded as high as $20.67. Acadia Realty Trust shares last traded at $20.4080, with a volume of 660,570 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AKR. Wall Street Zen downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Citigroup increased their target price on 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 lowered their price objective on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.33.

Acadia Realty Trust Trading Down 2.7%

The stock has a market cap of $2.63 billion, a P/E ratio of 223.45, a P/E/G ratio of 2.07 and a beta of 1.09. 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 company has a 50-day moving average price of $20.59 and a two-hundred day moving average price of $20.21.

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

Acadia Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.0%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 888.89%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its stake in shares of Acadia Realty Trust by 32.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 547 shares during the period. Danske Bank A S lifted its holdings in Acadia Realty Trust by 600.0% during the fourth quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 1,800 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Acadia Realty Trust in the second quarter valued at about $47,000. Hantz Financial Services Inc. raised its position in shares of Acadia Realty Trust by 90.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,622 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,244 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 2,309 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 (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.