Acadia Realty Trust (NYSE:AKR) Stock Gets Price Target Reduction from Citigroup

Acadia Realty Trust (NYSE:AKR) had its price objective cut by Citigroup from $26.00 to $24.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other analysts have also weighed in on the company. Weiss Ratings lowered Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. Wall Street Zen cut shares of Acadia Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Sunday. Truist Financial started coverage on shares of Acadia Realty Trust in a report on Thursday, October 1st. They issued a “buy” rating and a $22.00 price target for the company. Finally, KeyCorp restated an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Acadia Realty Trust Stock Up 1.2%

Acadia Realty Trust stock opened at $20.09 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.23 and a current ratio of 1.23. Acadia Realty Trust has a one year low of $17.96 and a one year high of $23.03. The company has a 50-day simple moving average of $19.15 and a 200-day simple moving average of $20.58. The firm has a market capitalization of $2.78 billion, a P/E ratio of 71.76, a P/E/G ratio of 2.16 and a beta of 1.11.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.34). Acadia Realty Trust had a net margin of 10.23% and a return on equity of 1.54%. The firm had revenue of $94.98 million during the quarter, compared to analyst estimates of $94.38 million. During the same quarter in the previous year, the business posted $0.03 EPS. Acadia Realty Trust’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts expect that Acadia Realty Trust will post 1.25 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Acadia Realty Trust’s payout ratio is 285.71%.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors have recently bought and sold shares of AKR. Advisors Asset Management Inc. bought a new stake in shares of Acadia Realty Trust during the 3rd quarter worth $1,395,000. Landscape Capital Management L.L.C. bought a new position in Acadia Realty Trust in the 3rd quarter worth $377,000. Public Sector Pension Investment Board lifted its position in Acadia Realty Trust by 73.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 797,260 shares of the real estate investment trust’s stock worth $14,558,000 after acquiring an additional 338,600 shares during the last quarter. Cibc World Market Inc. acquired a new position in Acadia Realty Trust during the 3rd quarter worth $249,000. Finally, Hantz Financial Services Inc. boosted its holdings in Acadia Realty Trust by 23.3% during the third quarter. Hantz Financial Services Inc. now owns 12,290 shares of the real estate investment trust’s stock valued at $230,000 after acquiring an additional 2,324 shares during the period. 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 that owns, operates and invests in retail properties. Its portfolio includes shopping centers and urban street-retail properties, with tenants spanning a range of retail and service businesses. The company focuses on high-barrier-to-entry markets in the United States, including major metropolitan areas. It combines a portfolio of directly owned properties with investment funds through which it partners on additional real estate investments.