Brokerages Set Acadia Realty Trust (NYSE:AKR) Target Price at $21.60

Shares of Acadia Realty Trust (NYSE:AKR) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $21.60.

Several research firms recently weighed in on AKR. StockNews.com raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial lifted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th.

Hedge Funds Weigh In On Acadia Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Acadia Realty Trust by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock worth $62,033,000 after acquiring an additional 63,672 shares during the last quarter. Vestcor Inc lifted its holdings in shares of Acadia Realty Trust by 2.7% during the 3rd quarter. Vestcor Inc now owns 92,672 shares of the real estate investment trust’s stock valued at $2,176,000 after purchasing an additional 2,407 shares in the last quarter. Barclays PLC increased its position in shares of Acadia Realty Trust by 11.8% during the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock worth $18,240,000 after acquiring an additional 81,853 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Acadia Realty Trust by 2.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 151,650 shares of the real estate investment trust’s stock worth $3,561,000 after purchasing an additional 4,086 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Acadia Realty Trust by 3.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 136,456 shares of the real estate investment trust’s stock valued at $3,204,000 after purchasing an additional 5,000 shares in the last quarter. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Price Performance

Shares of NYSE AKR opened at $25.59 on Friday. Acadia Realty Trust has a 1-year low of $14.74 and a 1-year high of $25.78. The firm has a market capitalization of $3.06 billion, a PE ratio of 284.33, a P/E/G ratio of 6.37 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The business’s fifty day moving average price is $24.02 and its two-hundred day moving average price is $21.08.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The firm had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the previous year, the business posted $0.27 EPS. Acadia Realty Trust’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

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.