Acadia Realty Trust (NYSE:AKR) Receives Average Recommendation of “Hold” from Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $22.00.

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Finally, Truist Financial decreased their price target on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR opened at $20.73 on Thursday. The business’s 50-day simple moving average is $20.40 and its 200-day simple moving average is $19.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.06. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $24.95. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 172.76, a P/E/G ratio of 3.47 and a beta of 1.14.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its position in shares of Acadia Realty Trust by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,012 shares of the real estate investment trust’s stock valued at $616,000 after acquiring an additional 500 shares during the period. State of Wyoming raised its stake in Acadia Realty Trust by 10.8% during the 2nd quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 543 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Acadia Realty Trust by 32.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 547 shares during the period. Amalgamated Bank grew its position in Acadia Realty Trust by 1.9% in the 3rd quarter. Amalgamated Bank now owns 37,530 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 697 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in Acadia Realty Trust by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 173,200 shares of the real estate investment trust’s stock worth $3,490,000 after purchasing an additional 729 shares during the last quarter. 97.65% of the stock is owned by institutional investors.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.