Acadia Realty Trust (NYSE:AKR) Given Average Rating of “Hold” by Brokerages

Shares of Acadia Realty Trust (NYSE:AKR) have earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.3333.

AKR has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Truist Financial lowered their price objective on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st.

Acadia Realty Trust Stock Down 0.5%

Shares of AKR traded down $0.11 during trading on Monday, reaching $20.82. The company’s stock had a trading volume of 67,150 shares, compared to its average volume of 1,313,254. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 231.80, a P/E/G ratio of 2.09 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $20.59 and a two-hundred day moving average of $20.11. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $23.45.

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

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 3.8%. Acadia Realty Trust’s payout ratio is presently 888.89%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of Acadia Realty Trust by 83.2% during the first quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust’s stock valued at $885,000 after acquiring an additional 19,184 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Acadia Realty Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,734 shares of the real estate investment trust’s stock valued at $1,461,000 after purchasing an additional 3,045 shares during the last quarter. Millennium Management LLC boosted its stake in Acadia Realty Trust by 31.1% during the 1st quarter. Millennium Management LLC now owns 811,139 shares of the real estate investment trust’s stock valued at $16,993,000 after purchasing an additional 192,267 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Acadia Realty Trust by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust’s stock worth $17,145,000 after purchasing an additional 82,974 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Acadia Realty Trust in the 1st quarter worth about $1,284,000. 97.65% of the stock is currently owned by institutional investors.

About Acadia Realty Trust

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.