Acadia Realty Trust (NYSE:AKR) Short Interest Up 23.2% in December

Acadia Realty Trust (NYSE:AKR) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 10,180,000 shares, a growth of 23.2% from the November 30th total of 8,260,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 7.6 days.

Institutional Investors Weigh In On Acadia Realty Trust

Several institutional investors have recently added to or reduced their stakes in AKR. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust during the 3rd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 1,039 shares during the period. Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust in the 3rd quarter worth approximately $202,000. Crossmark Global Holdings Inc. purchased a new position in shares of Acadia Realty Trust in the 3rd quarter valued at approximately $202,000. Finally, Algert Global LLC bought a new stake in shares of Acadia Realty Trust during the second quarter valued at approximately $186,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AKR. 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. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.40.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock traded up $0.33 during mid-day trading on Tuesday, hitting $24.13. 85,020 shares of the company traded hands, compared to its average volume of 1,073,613. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a one year low of $16.09 and a one year high of $26.29. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 268.11, a price-to-earnings-growth ratio of 6.41 and a beta of 1.46. The stock has a fifty day moving average price of $24.83 and a 200-day moving average price of $22.48.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). The firm had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. On average, equities analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s payout ratio is 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.