Short Interest in Acadia Realty Trust (NYSE:AKR) Increases By 21.7%

Acadia Realty Trust (NYSE:AKR) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 12,390,000 shares, a growth of 21.7% from the December 15th total of 10,180,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 9.2 days.

Acadia Realty Trust Stock Down 1.1 %

Shares of NYSE AKR opened at $22.64 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.71 billion, a P/E ratio of 251.59, a P/E/G ratio of 5.34 and a beta of 1.47. Acadia Realty Trust has a 52 week low of $16.09 and a 52 week high of $26.29. The business has a 50-day simple moving average of $24.42 and a two-hundred day simple moving average of $22.99.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data 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 during 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%. Acadia Realty Trust’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. Research analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.19 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. Acadia Realty Trust’s payout ratio is currently 844.44%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Acadia Realty Trust

Several large investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new position in Acadia Realty Trust in the 3rd quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 35.0% during 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 purchasing an additional 1,039 shares in the last quarter. Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust in the third quarter worth approximately $202,000. Crossmark Global Holdings Inc. purchased a new stake in Acadia Realty Trust in the third quarter valued at approximately $202,000. Finally, Algert Global LLC bought a new stake in Acadia Realty Trust during the second quarter valued at approximately $186,000. Institutional investors own 97.65% of the company’s stock.

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.