Acadia Realty Trust (NYSE:AKR) Given Average Recommendation of “Hold” by Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have earned a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. Three research 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 covered the stock in the last year is $18.40.

A number of research firms have weighed in on AKR. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Wednesday, June 26th. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $18.00 to $20.00 in a research report on Friday, April 5th.

Acadia Realty Trust Price Performance

NYSE:AKR opened at $18.23 on Wednesday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 227.88, a P/E/G ratio of 4.72 and a beta of 1.46. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $18.27. The stock has a fifty day moving average of $17.18 and a 200 day moving average of $16.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.90.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The firm had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.95%. Acadia Realty Trust’s dividend payout ratio is presently 900.00%.

Insider Activity at Acadia Realty Trust

In related news, VP Richard Hartmann sold 25,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Richard Hartmann sold 25,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total value of $211,125.00. Following the transaction, the chief financial officer now owns 7,600 shares in the company, valued at approximately $128,364. The disclosure for this sale can be found here. 2.83% of the stock is owned by company insiders.

Institutional Trading of Acadia Realty Trust

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Acadia Realty Trust by 32.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 572 shares in the last quarter. Federated Hermes Inc. boosted its position in Acadia Realty Trust by 189.9% during the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,152 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Acadia Realty Trust during the 1st quarter valued at approximately $58,000. Ameritas Investment Partners Inc. boosted its position in Acadia Realty Trust by 8.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Acadia Realty Trust during the 4th quarter valued at approximately $174,000. 97.65% of the stock is owned by institutional investors.

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.