Acadia Realty Trust (NYSE:AKR) Lifted to “C-” at TheStreet

TheStreet upgraded shares of Acadia Realty Trust (NYSE:AKR) from a d rating to a c- rating in a research report report published on Friday, TheStreetRatingsTable reports.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Acadia Realty Trust from a hold rating to a buy rating and lifted their target price for the stock from $14.00 to $17.00 in a research note on Wednesday, January 13th. Zacks Investment Research upgraded shares of Acadia Realty Trust from a sell rating to a hold rating in a report on Wednesday, March 24th. Bank of America lowered shares of Acadia Realty Trust from a buy rating to a neutral rating in a report on Tuesday, January 19th. Finally, Truist lifted their price target on shares of Acadia Realty Trust from $15.00 to $20.00 in a report on Friday, March 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Acadia Realty Trust currently has a consensus rating of Hold and a consensus target price of $15.63.

AKR stock opened at $21.25 on Friday. The stock has a market capitalization of $1.83 billion, a P/E ratio of 81.73, a PEG ratio of 12.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.54 and a current ratio of 0.54. Acadia Realty Trust has a one year low of $9.10 and a one year high of $21.82. The company has a 50 day moving average price of $20.08 and a two-hundred day moving average price of $16.10.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.18. Acadia Realty Trust had a net margin of 8.72% and a return on equity of 1.10%. Research analysts forecast that Acadia Realty Trust will post 1.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.82%. Acadia Realty Trust’s payout ratio is 42.55%.

In related news, Director Wendy W. Luscombe sold 1,523 shares of Acadia Realty Trust stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $19.90, for a total transaction of $30,307.70. Following the transaction, the director now owns 35,494 shares in the company, valued at approximately $706,330.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Napolitano sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $20.60, for a total transaction of $103,000.00. Following the completion of the transaction, the vice president now owns 3,000 shares in the company, valued at approximately $61,800. The disclosure for this sale can be found here. Insiders have sold a total of 7,523 shares of company stock worth $154,218 in the last 90 days. Company insiders own 2.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its holdings in Acadia Realty Trust by 6.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,829 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 1,400 shares in the last quarter. US Bancorp DE lifted its holdings in Acadia Realty Trust by 27.6% in the 1st quarter. US Bancorp DE now owns 3,098 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 670 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Acadia Realty Trust by 2.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 35,342 shares of the real estate investment trust’s stock worth $670,000 after buying an additional 700 shares in the last quarter. Nachman Norwood & Parrott Inc increased its position in shares of Acadia Realty Trust by 7.1% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 19,536 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Acadia Realty Trust in the 1st quarter worth about $333,000. Hedge funds and other institutional investors own 99.65% of the company’s stock.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Â- Core Portfolio and Fund Â- 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 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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Analyst Recommendations for Acadia Realty Trust (NYSE:AKR)

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