Acadia Realty Trust (NYSE:AKR) Receives Average Rating of “Hold” from Brokerages

Acadia Realty Trust (NYSE:AKR) has been assigned an average rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $22.25.

A number of research analysts recently issued reports on AKR shares. Citigroup lifted their price target on Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Zacks Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. raised their price target on Acadia Realty Trust from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, March 20th. Finally, Wall Street Zen lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st.

Institutional Investors Weigh In On Acadia Realty Trust

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Acadia Realty Trust by 83.2% during the 1st quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust’s stock worth $885,000 after purchasing an additional 19,184 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Acadia Realty Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,734 shares of the real estate investment trust’s stock valued at $1,461,000 after buying an additional 3,045 shares during the period. Millennium Management LLC boosted its stake in shares of Acadia Realty Trust by 31.1% in the 1st quarter. Millennium Management LLC now owns 811,139 shares of the real estate investment trust’s stock valued at $16,993,000 after purchasing an additional 192,267 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Acadia Realty Trust by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust’s stock valued at $17,145,000 after purchasing an additional 82,974 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Acadia Realty Trust in the first quarter valued at $1,284,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR opened at $21.33 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average price is $20.33 and its two-hundred day moving average price is $20.20. Acadia Realty Trust has a fifty-two week low of $18.04 and a fifty-two week high of $22.36. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 237.06, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The firm had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. During the same quarter last year, the firm earned $0.32 earnings per share. Acadia Realty Trust’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that Acadia Realty Trust will post 1.23 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. Acadia Realty Trust’s payout ratio is currently 888.89%.

Acadia Realty Trust Company Profile

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.