Truist Financial Issues Pessimistic Forecast for Acadia Realty Trust (NYSE:AKR) Stock Price

Acadia Realty Trust (NYSE:AKR) had its price objective reduced by investment analysts at Truist Financial from $25.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 8.54% from the stock’s current price.

Separately, StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.00.

Acadia Realty Trust Trading Up 2.2 %

Shares of Acadia Realty Trust stock opened at $21.19 on Tuesday. The business has a 50 day moving average price of $22.55 and a 200 day moving average price of $23.54. The company has a market capitalization of $2.54 billion, a P/E ratio of 117.72, a P/E/G ratio of 6.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. Acadia Realty Trust has a 1 year low of $16.14 and a 1 year high of $26.29.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. Sell-side analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jason Blacksberg sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value of $684,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Acadia Realty Trust by 91.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 717 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Acadia Realty Trust in the 4th quarter valued at $46,000. Sterling Capital Management LLC increased its stake in Acadia Realty Trust by 960.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 3,344 shares in the last quarter. USA Financial Formulas raised its holdings in Acadia Realty Trust by 14.4% during the 4th quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 489 shares during the period. Finally, KBC Group NV lifted its stake in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,448 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

About Acadia Realty Trust

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.