StockNews.com Upgrades Acadia Realty Trust (NYSE:AKR) to Hold

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

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective on the stock in a research note on Wednesday, June 26th. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Compass Point upped their price objective on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.80.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $23.16 on Friday. The firm has a market capitalization of $2.39 billion, a PE ratio of 289.50, a PEG ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $23.37. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm’s fifty day simple moving average is $21.95 and its 200 day simple moving average is $18.94.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.30). The business had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.

Institutional Trading of Acadia Realty Trust

Several institutional investors have recently made changes to their positions in AKR. Cohen & Steers Inc. lifted its stake in Acadia Realty Trust by 5.2% during the fourth quarter. Cohen & Steers Inc. now owns 15,790,037 shares of the real estate investment trust’s stock worth $268,273,000 after purchasing an additional 776,121 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Acadia Realty Trust by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,460,179 shares of the real estate investment trust’s stock valued at $143,741,000 after acquiring an additional 223,215 shares during the period. Vanguard Group Inc. boosted its stake in shares of Acadia Realty Trust by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust’s stock valued at $283,775,000 after purchasing an additional 1,192,138 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Acadia Realty Trust by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the real estate investment trust’s stock worth $930,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Acadia Realty Trust by 4.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 113,776 shares of the real estate investment trust’s stock worth $1,933,000 after purchasing an additional 4,800 shares in the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

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.