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

Acadia Realty Trust (NYSE:AKR) was upgraded by stock analysts at TheStreet from a “d” rating to a “c-” rating in a research report issued on Friday, TheStreetRatingsTable reports.

Several other research firms have also commented on AKR. Truist increased their price objective on shares of Acadia Realty Trust from $15.00 to $20.00 in a research report on Friday, March 5th. Bank of America lowered Acadia Realty Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 19th. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 24th. Finally, Jefferies Financial Group upgraded 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 report on Wednesday, January 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.63.

Shares of AKR stock opened at $21.25 on Friday. The company’s fifty day simple moving average is $20.08 and its two-hundred day simple moving average is $16.10. Acadia Realty Trust has a 52 week low of $9.10 and a 52 week high of $21.82. The stock has a market cap 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 quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.87.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.18. Acadia Realty Trust had a return on equity of 1.10% and a net margin of 8.72%. On average, analysts anticipate that Acadia Realty Trust will post 1.04 EPS for the current fiscal year.

In other news, Director Wendy W. Luscombe sold 1,523 shares of the business’s 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 completion of the sale, the director now directly owns 35,494 shares of the company’s stock, valued at approximately $706,330.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Napolitano sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $20.60, for a total value of $103,000.00. Following the sale, the vice president now owns 3,000 shares of the company’s stock, valued at $61,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,523 shares of company stock worth $154,218. 2.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Acadia Realty Trust by 10.7% during the fourth quarter. BlackRock Inc. now owns 17,163,201 shares of the real estate investment trust’s stock valued at $243,545,000 after acquiring an additional 1,652,452 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Acadia Realty Trust by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,917,649 shares of the real estate investment trust’s stock valued at $98,161,000 after buying an additional 709,035 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Acadia Realty Trust by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,119,248 shares of the real estate investment trust’s stock valued at $15,883,000 after purchasing an additional 29,617 shares during the last quarter. Norges Bank bought a new position in Acadia Realty Trust in the fourth quarter valued at about $15,855,000. Finally, Sei Investments Co. grew its holdings in Acadia Realty Trust by 13.7% during the 3rd quarter. Sei Investments Co. now owns 508,852 shares of the real estate investment trust’s stock worth $5,343,000 after acquiring an additional 61,400 shares during the period. 99.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Company Profile

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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