Acadia Realty Trust (NYSE:AKR) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Acadia Realty Trust (NYSE:AKR) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

AKR has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Wall Street Zen downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Truist Financial reduced their price target on 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. JPMorgan Chase & Co. increased their price objective on shares of Acadia Realty Trust from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, March 20th. Finally, Citigroup lifted their price objective 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. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.25.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $19.19 on Monday. 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 $2.51 billion, a price-to-earnings ratio of 213.19, a PEG ratio of 1.94 and a beta of 1.09. The firm’s fifty day simple moving average is $20.47 and its 200 day simple moving average is $20.20. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $22.36.

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 the consensus estimate of $0.32 by ($0.28). Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The company had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 888.89%.

Institutional Investors Weigh In On Acadia Realty Trust

A number of institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in Acadia Realty Trust by 22.0% in the fourth quarter. Hsbc Holdings PLC now owns 217,339 shares of the real estate investment trust’s stock worth $4,464,000 after purchasing an additional 39,212 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Acadia Realty Trust during the 4th quarter worth approximately $211,000. First Citizens Bank & Trust Co. acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $261,000. Virtus Investment Advisers LLC acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $162,000. Finally, Wellington Management Group LLP bought a new stake in shares of Acadia Realty Trust in the 4th quarter valued at approximately $42,330,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

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.