Shares of Acadia Realty Trust (NYSE:AKR) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the firm. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.88.
Several research firms have recently weighed in on AKR. Zacks Investment Research raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. BTIG Research began coverage on Acadia Realty Trust in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Citigroup Inc. raised their price objective 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. BMO Capital Markets reissued a “buy” rating and set a $40.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. Finally, Boenning Scattergood reissued an “outperform” rating and set a $38.00 price objective on shares of Acadia Realty Trust in a research note on Tuesday, June 28th.
In other news, Director William T. Spitz sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $37.25, for a total value of $372,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel L. Braun sold 22,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 24,109 shares of the company’s stock, valued at approximately $906,498.40. The disclosure for this sale can be found here. 2.22% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Acadia Realty Trust by 4.0% in the second quarter. Vanguard Group Inc. now owns 11,091,594 shares of the real estate investment trust’s stock valued at $393,973,000 after buying an additional 425,052 shares during the period. FMR LLC raised its stake in shares of Acadia Realty Trust by 5.6% in the second quarter. FMR LLC now owns 10,024,944 shares of the real estate investment trust’s stock valued at $356,086,000 after buying an additional 529,724 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Acadia Realty Trust by 5.4% in the second quarter. BlackRock Fund Advisors now owns 4,510,191 shares of the real estate investment trust’s stock valued at $160,202,000 after buying an additional 230,075 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Acadia Realty Trust by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,698,001 shares of the real estate investment trust’s stock valued at $95,833,000 after buying an additional 56,869 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Acadia Realty Trust by 3.3% in the second quarter. State Street Corp now owns 2,373,226 shares of the real estate investment trust’s stock valued at $84,290,000 after buying an additional 76,918 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.
Shares of Acadia Realty Trust (NYSE:AKR) opened at 34.25 on Friday. The firm’s 50-day moving average price is $36.19 and its 200 day moving average price is $35.30. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 35.42 and a beta of 0.67. Acadia Realty Trust has a 52 week low of $30.25 and a 52 week high of $38.01.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $51.30 million for the quarter, compared to the consensus estimate of $40.51 million. Acadia Realty Trust had a net margin of 32.18% and a return on equity of 4.32%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. On average, analysts anticipate that Acadia Realty Trust will post $1.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.92%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 103.09%.
About Acadia Realty Trust
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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