Acadia Realty Trust (NYSE:AKR) Sets New 1-Year High at $17.90

Acadia Realty Trust (NYSE:AKR) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.90 and last traded at $17.09, with a volume of 209793 shares changing hands. The stock had previously closed at $17.60.

Analysts Set New Price Targets

Several analysts have recently issued reports on AKR shares. Truist Financial lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Tuesday, January 16th. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.50.

Acadia Realty Trust Trading Down 1.1 %

The company has a 50 day moving average of $16.75 and a 200 day moving average of $16.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.87 and a current ratio of 0.90. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 213.56, a P/E/G ratio of 11.54 and a beta of 1.41.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The business had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. Acadia Realty Trust’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. On average, research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.18 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a yield of 4.21%. Acadia Realty Trust’s payout ratio is 900.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Acadia Realty Trust by 1.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,003 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 781 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Acadia Realty Trust by 5.0% during the 3rd quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 997 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Acadia Realty Trust by 3.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,359 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 1,123 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Acadia Realty Trust by 2.3% in the third quarter. Nisa Investment Advisors LLC now owns 55,229 shares of the real estate investment trust’s stock valued at $793,000 after purchasing an additional 1,241 shares during the period. Finally, Swiss National Bank increased its position in Acadia Realty Trust by 1.0% during the third quarter. Swiss National Bank now owns 209,300 shares of the real estate investment trust’s stock worth $3,003,000 after purchasing an additional 2,100 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

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.