Acadia Realty Trust (NYSE:AKR) Upgraded to “Hold” at StockNews.com

Acadia Realty Trust (NYSE:AKR) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Other analysts have also issued research reports about the stock. Bank of America upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Acadia Realty Trust has an average rating of “Hold” and a consensus target price of $18.40.

Acadia Realty Trust Trading Up 0.1 %

NYSE AKR traded up $0.02 during mid-day trading on Thursday, hitting $21.66. The company’s stock had a trading volume of 1,884,379 shares, compared to its average volume of 1,035,479. The firm has a market capitalization of $2.23 billion, a P/E ratio of 270.75, a price-to-earnings-growth ratio of 5.61 and a beta of 1.46. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $22.51. The stock’s fifty day simple moving average is $18.33 and its two-hundred day simple moving average is $17.38.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Insider Buying and Selling at Acadia Realty Trust

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

Hedge Funds Weigh In On Acadia Realty Trust

A number of large investors have recently made changes to their positions in AKR. Asset Management One Co. Ltd. lifted its holdings in shares of Acadia Realty Trust by 2.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 147,146 shares of the real estate investment trust’s stock valued at $2,546,000 after buying an additional 3,218 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $810,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Acadia Realty Trust by 6.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 112,133 shares of the real estate investment trust’s stock worth $1,905,000 after acquiring an additional 6,772 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Acadia Realty Trust by 6.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,187 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 2,595 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Acadia Realty Trust by 113.1% during the 4th quarter. Federated Hermes Inc. now owns 7,000 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 3,715 shares in the last quarter. Institutional investors and hedge funds 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.