Acadia Realty Trust (NYSE:AKR) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a research note released on Saturday morning.

Other research analysts also recently issued reports about the stock. Citigroup upped their price target on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Finally, Truist Financial cut their price target on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.33.

Acadia Realty Trust Price Performance

Shares of AKR stock opened at $20.58 on Friday. The business has a fifty day simple moving average of $20.56 and a 200 day simple moving average of $20.06. The company has a market cap of $2.70 billion, a P/E ratio of 228.69, a P/E/G ratio of 2.03 and a beta of 1.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $23.62.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). The company had revenue of $104.77 million during the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth $211,000. First Citizens Bank & Trust Co. bought a new stake in Acadia Realty Trust during the fourth quarter valued at $261,000. Virtus Investment Advisers LLC acquired a new stake in Acadia Realty Trust during the 4th quarter worth about $162,000. Wellington Management Group LLP bought a new position in shares of Acadia Realty Trust in the 4th quarter worth about $42,330,000. Finally, Susquehanna Portfolio Strategies LLC lifted its stake in shares of Acadia Realty Trust by 70.0% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 231,612 shares of the real estate investment trust’s stock valued at $4,757,000 after purchasing an additional 95,382 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.