Acadia Realty Trust (NYSE:AKR) Given Consensus Rating of “Moderate Buy” by Analysts

Acadia Realty Trust (NYSE:AKR) has earned a consensus recommendation of “Moderate Buy” from the four research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.50.

Several brokerages have recently weighed in on AKR. Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $20.00 in a research note on Friday. Truist Financial downgraded Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group raised Acadia Realty Trust from a “hold” rating to a “buy” rating and upped their target price for the stock from $15.00 to $20.00 in a research note on Tuesday, January 2nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. grew its holdings in shares of Acadia Realty Trust by 1.4% during the 2nd quarter. American International Group Inc. now owns 50,603 shares of the real estate investment trust’s stock worth $790,000 after purchasing an additional 721 shares during the period. Sei Investments Co. grew its holdings in shares of Acadia Realty Trust by 7.2% during the 1st quarter. Sei Investments Co. now owns 11,526 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 771 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 1.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,003 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 781 shares during the period. LPL Financial LLC boosted its holdings in Acadia Realty Trust by 6.0% during the 3rd quarter. LPL Financial LLC now owns 13,882 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 782 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Acadia Realty Trust by 11.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,723 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 823 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Trading Down 0.3 %

Acadia Realty Trust stock opened at $16.31 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. Acadia Realty Trust has a 12 month low of $12.37 and a 12 month high of $17.73. The stock’s 50 day simple moving average is $16.71 and its two-hundred day simple moving average is $15.89. The firm has a market cap of $1.68 billion, a PE ratio of 85.85 and a beta of 1.44.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio is currently 378.97%.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund 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.