Acadia Realty Trust (NYSE:AKR) Hits New 1-Year High – Here’s Why

Acadia Realty Trust (NYSE:AKR)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.50 and last traded at $26.50, with a volume of 120 shares. The stock had previously closed at $25.51.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AKR shares. Truist Financial upped their price target on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.40.

Acadia Realty Trust Stock Down 1.5 %

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.98 billion, a P/E ratio of 277.17, a P/E/G ratio of 6.45 and a beta of 1.46. The business has a 50-day moving average price of $24.59 and a 200 day moving average price of $21.74.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The firm had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.05%. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

Institutional Trading of Acadia Realty Trust

Institutional investors have recently bought and sold shares of the stock. USA Financial Formulas bought a new stake in Acadia Realty Trust in the third quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new stake in Acadia Realty Trust in the second quarter worth $103,000. Custom Index Systems LLC bought a new stake in Acadia Realty Trust in the third quarter worth $202,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Acadia Realty Trust in the third quarter worth $202,000. 97.65% of the stock is currently owned by institutional investors.

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.