Acadia Realty Trust (NYSE:AKR) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a research note published on Wednesday morning, 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. “

Separately, Compass Point assumed coverage on Acadia Realty Trust in a research report on Thursday, August 15th. They set a buy rating and a $30.00 target price for the company.

Acadia Realty Trust stock opened at $27.42 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $2.43 billion, a P/E ratio of 20.31, a P/E/G ratio of 3.54 and a beta of 0.66. The business’s fifty day moving average is $28.51 and its two-hundred day moving average is $28.08. Acadia Realty Trust has a 52 week low of $23.11 and a 52 week high of $29.82.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.21). The firm had revenue of $72.19 million for the quarter, compared to the consensus estimate of $61.66 million. Acadia Realty Trust had a return on equity of 1.82% and a net margin of 13.42%. The company’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. On average, equities research analysts predict that Acadia Realty Trust will post 1.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.23%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.28. Acadia Realty Trust’s payout ratio is presently 82.96%.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Acadia Realty Trust by 3.7% during the second quarter. BlackRock Inc. now owns 14,851,300 shares of the real estate investment trust’s stock worth $406,481,000 after acquiring an additional 526,727 shares during the last quarter. Cohen & Steers Inc. bought a new stake in shares of Acadia Realty Trust during the second quarter worth $81,150,000. Northern Trust Corp raised its position in shares of Acadia Realty Trust by 2.1% during the second quarter. Northern Trust Corp now owns 2,026,930 shares of the real estate investment trust’s stock worth $55,477,000 after acquiring an additional 41,619 shares during the last quarter. Heitman Real Estate Securities LLC increased its holdings in Acadia Realty Trust by 8.2% in the second quarter. Heitman Real Estate Securities LLC now owns 1,568,834 shares of the real estate investment trust’s stock valued at $42,939,000 after purchasing an additional 119,060 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Acadia Realty Trust by 18.1% in the second quarter. Wells Fargo & Company MN now owns 1,294,568 shares of the real estate investment trust’s stock valued at $35,432,000 after purchasing an additional 198,614 shares during the last quarter.

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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