Acadia Realty Trust (AKR) Sets New 1-Year High at $36.80
Acadia Realty Trust (NYSE:AKR) shares reached a new 52-week high on Monday . The stock traded as high as $36.80 and last traded at $36.75, with a volume of 219,835 shares. The stock had previously closed at $36.66.
Several research firms have weighed in on AKR. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, July 6th. Citigroup Inc. restated a “buy” rating on shares of Acadia Realty Trust in a report on Monday, April 4th. Finally, Boenning Scattergood restated an “outperform” rating and set a $38.00 price objective on shares of Acadia Realty Trust in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $39.67.
The stock has a market capitalization of $2.62 billion and a PE ratio of 33.17. The stock has a 50 day moving average of $34.60 and a 200-day moving average of $33.87.
Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. During the same quarter in the prior year, the business posted $0.32 EPS. The firm earned $52.70 million during the quarter, compared to the consensus estimate of $40.70 million. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts expect that Acadia Realty Trust will post $1.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, June 28th.
In other news, SVP Robert Masters sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $35.20, for a total value of $211,200.00. Following the transaction, the senior vice president now owns 11,386 shares in the company, valued at $400,787.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Acadia Realty Trust by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 893,924 shares of the real estate investment trust’s stock valued at $29,634,000 after buying an additional 11,578 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Acadia Realty Trust by 1.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 475,746 shares of the real estate investment trust’s stock valued at $15,771,000 after buying an additional 5,000 shares during the period. Principal Financial Group Inc. boosted its stake in Acadia Realty Trust by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 463,826 shares of the real estate investment trust’s stock valued at $15,375,000 after buying an additional 20,607 shares during the period. Cornerstone Real Estate Advisers LLC boosted its stake in Acadia Realty Trust by 10.9% in the fourth quarter. Cornerstone Real Estate Advisers LLC now owns 151,929 shares of the real estate investment trust’s stock valued at $5,036,000 after buying an additional 14,891 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Acadia Realty Trust by 82.8% in the fourth quarter. GSA Capital Partners LLP now owns 31,801 shares of the real estate investment trust’s stock valued at $1,054,000 after buying an additional 14,400 shares during the period.
Acadia Realty Trust is a real estate investment trust (REIT). The Trust is focused on the ownership, acquisition, redevelopment and management of retail properties located in metropolitan areas in the United States. The Trust’s Core Portfolio consists of street retail and urban assets, as well as suburban properties located in high-barrier-to-entry, densely-populated trade areas.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.