Acadia Realty Trust (NYSE:AKR) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Acadia Realty Trust (NYSE:AKR) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat.com reports. The firm currently has $20.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $18.00.

Several other equities analysts have also commented on the stock. Truist Financial lowered shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 price target for the company. in a research report on Tuesday, January 16th. Jefferies Financial Group upgraded shares of Acadia Realty Trust from a hold rating to a buy rating and upped their price target for the stock from $15.00 to $20.00 in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $18.50.

Acadia Realty Trust Stock Up 1.7 %

Acadia Realty Trust stock opened at $16.81 on Friday. The company has a 50-day simple moving average of $16.67 and a 200-day simple moving average of $15.91. The firm has a market capitalization of $1.73 billion, a P/E ratio of 88.45 and a beta of 1.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. Acadia Realty Trust has a one year low of $12.37 and a one year high of $17.73.

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a yield of 4.28%. Acadia Realty Trust’s dividend payout ratio is presently 378.97%.

Hedge Funds Weigh In On Acadia Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of AKR. Price T Rowe Associates Inc. MD grew its position in Acadia Realty Trust by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,844,611 shares of the real estate investment trust’s stock valued at $95,485,000 after buying an additional 1,025,776 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Acadia Realty Trust by 167.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,534,560 shares of the real estate investment trust’s stock valued at $22,021,000 after purchasing an additional 960,829 shares in the last quarter. Norges Bank bought a new position in shares of Acadia Realty Trust during the 4th quarter valued at about $12,812,000. Cohen & Steers Inc. boosted its position in shares of Acadia Realty Trust by 5.5% during the 2nd quarter. Cohen & Steers Inc. now owns 15,079,049 shares of the real estate investment trust’s stock valued at $216,988,000 after purchasing an additional 792,814 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Acadia Realty Trust by 3,453.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 777,369 shares of the real estate investment trust’s stock valued at $13,207,000 after purchasing an additional 755,491 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.

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 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.