Brokerages Set Acadia Realty Trust (NYSE:AKR) Price Target at $22.25

Acadia Realty Trust (NYSE:AKR) has been given an average rating of “Hold” by the six research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.25.

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

Acadia Realty Trust Stock Performance

NYSE AKR opened at $19.39 on Friday. The firm’s 50 day simple moving average is $20.24 and its 200 day simple moving average is $20.17. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 215.41, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $22.36.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.28). The business had revenue of $104.77 million for the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. As a group, research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 4.1%. Acadia Realty Trust’s dividend payout ratio is presently 888.89%.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Acadia Realty Trust by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,939,618 shares of the real estate investment trust’s stock worth $401,783,000 after acquiring an additional 114,473 shares during the last quarter. State Street Corp raised its position in Acadia Realty Trust by 9.3% in the second quarter. State Street Corp now owns 7,450,026 shares of the real estate investment trust’s stock valued at $139,802,000 after purchasing an additional 632,722 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Acadia Realty Trust by 74.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,572,852 shares of the real estate investment trust’s stock valued at $114,466,000 after purchasing an additional 2,370,553 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Acadia Realty Trust by 23.6% during the fourth quarter. Engineers Gate Manager LP now owns 3,755,928 shares of the real estate investment trust’s stock valued at $77,147,000 after purchasing an additional 717,826 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Acadia Realty Trust by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,392,747 shares of the real estate investment trust’s stock worth $69,698,000 after purchasing an additional 10,648 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

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.