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. “
Several other brokerages have also commented on AKR. Boenning Scattergood reissued an outperform rating and set a $38.00 price target on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. Citigroup Inc. boosted their price target on Acadia Realty Trust from $40.50 to $41.50 and gave the stock a buy rating in a research note on Friday, August 12th. BTIG Research started coverage on Acadia Realty Trust in a research note on Thursday, August 25th. They set a neutral rating on the stock. Finally, BMO Capital Markets reissued a buy rating and set a $40.00 price target on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $40.10.
Shares of Acadia Realty Trust (NYSE:AKR) opened at 36.24 on Tuesday. The firm has a market cap of $2.74 billion, a PE ratio of 37.48 and a beta of 0.67. Acadia Realty Trust has a 12-month low of $30.25 and a 12-month high of $38.01. The company has a 50 day moving average price of $36.39 and a 200 day moving average price of $35.29.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $40.51 million. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. Acadia Realty Trust’s revenue was down 9.9% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. On average, analysts forecast that Acadia Realty Trust will post $1.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 28th. Acadia Realty Trust’s payout ratio is currently 103.09%.
In related news, insider Joel L. Braun sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $37.60, for a total value of $827,200.00. Following the sale, the insider now owns 24,109 shares of the company’s stock, valued at approximately $906,498.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lee S. Wielansky sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $37.03, for a total value of $444,360.00. The disclosure for this sale can be found here. 2.22% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Acadia Realty Trust by 4.1% in the first quarter. State Street Corp now owns 2,296,308 shares of the real estate investment trust’s stock worth $80,675,000 after buying an additional 89,859 shares during the last quarter. M&T Bank Corp bought a new stake in Acadia Realty Trust during the first quarter worth about $237,000. Menta Capital LLC bought a new stake in Acadia Realty Trust during the first quarter worth about $977,000. C M Bidwell & Associates Ltd. bought a new stake in Acadia Realty Trust during the first quarter worth about $177,000. Finally, Brookfield Asset Management Inc. bought a new stake in Acadia Realty Trust during the first quarter worth about $35,494,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.
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