Acadia Realty Trust (NYSE:AKR) Short Interest Down 11.9% in September

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Acadia Realty Trust (NYSE:AKR) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 2,950,000 shares, a decline of 11.9% from the August 30th total of 3,350,000 shares. Based on an average daily volume of 410,600 shares, the short-interest ratio is presently 7.2 days. Currently, 3.5% of the company’s stock are short sold.

Shares of Acadia Realty Trust stock traded up $0.01 during trading on Monday, reaching $28.71. The stock had a trading volume of 6,775 shares, compared to its average volume of 400,073. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 3.60 and a beta of 0.69. The stock has a fifty day moving average price of $28.29 and a two-hundred day moving average price of $27.97. Acadia Realty Trust has a 52 week low of $23.11 and a 52 week high of $29.82. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.80.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $71.10 million for the quarter, compared to the consensus estimate of $57.31 million. Acadia Realty Trust had a return on equity of 1.78% and a net margin of 13.32%. Acadia Realty Trust’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. On average, equities analysts forecast that Acadia Realty Trust will post 1.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, September 27th. Acadia Realty Trust’s dividend payout ratio is currently 82.96%.

In other news, CFO John J. Gottfried sold 30,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.78, for a total value of $833,400.00. Following the sale, the chief financial officer now directly owns 30,000 shares in the company, valued at $833,400. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.47% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AKR. Tower Research Capital LLC TRC increased its position in shares of Acadia Realty Trust by 11.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,444 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 461 shares during the last quarter. Redpoint Investment Management Pty Ltd acquired a new stake in shares of Acadia Realty Trust in the second quarter valued at about $201,000. Royal Bank of Canada increased its position in shares of Acadia Realty Trust by 114.3% in the second quarter. Royal Bank of Canada now owns 7,403 shares of the real estate investment trust’s stock valued at $203,000 after acquiring an additional 3,949 shares during the last quarter. Bank of Montreal Can increased its position in shares of Acadia Realty Trust by 251.6% in the second quarter. Bank of Montreal Can now owns 9,747 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 6,975 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Acadia Realty Trust in the second quarter valued at about $286,000.

A number of analysts have recently commented on the company. Compass Point assumed coverage on Acadia Realty Trust in a report on Thursday, August 15th. They issued a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, September 24th.

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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

Further Reading: Gross Domestic Product (GDP)

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