Acadia Realty Trust (NYSE:AKR) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other research firms have also issued reports on AKR. Truist Financial lowered their target price on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Finally, Citigroup boosted their price objective on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Acadia Realty Trust has a consensus rating of “Hold” and an average target price of $22.33.

Acadia Realty Trust Trading Up 1.4%

NYSE AKR opened at $20.27 on Friday. Acadia Realty Trust has a 1-year low of $16.98 and a 1-year high of $23.62. The firm’s fifty day simple moving average is $20.55 and its 200-day simple moving average is $20.04. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.66 billion, a PE ratio of 225.29, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share 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 the consensus estimate of $92.19 million. Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. Acadia Realty Trust’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Acadia Realty Trust

A number of large investors have recently made changes to their positions in AKR. Hantz Financial Services Inc. lifted 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 valued at $26,000 after purchasing an additional 902 shares in the last quarter. Danske Bank A S raised its stake in 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 during the period. Osaic Holdings Inc. lifted its stake in shares of Acadia Realty Trust by 32.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 547 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC grew 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 valued at $55,000 after buying an additional 2,309 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

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.