Acadia Realty Trust (NYSE:AKR) Given Average Recommendation of “Hold” by Brokerages

Shares of Acadia Realty Trust (NYSE:AKR) have received an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.25.

AKR has been the topic of several recent research reports. Truist Financial decreased their price objective on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Wall Street Zen cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Zacks Research upgraded shares of Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price target on shares of Acadia Realty Trust from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, March 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st.

Acadia Realty Trust Stock Performance

Shares of NYSE:AKR traded down $0.08 on Friday, hitting $19.07. 195,857 shares of the company were exchanged, compared to its average volume of 1,274,315. The company’s 50 day moving average price is $20.40 and its two-hundred day moving average price is $20.19. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 211.52, a PEG ratio of 1.92 and a beta of 1.09. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. Acadia Realty Trust has a one year low of $16.98 and a one year high of $22.36.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The firm had revenue of $104.77 million for the quarter, compared to analyst estimates of $92.19 million. During the same period last year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio is 888.89%.

Hedge Funds Weigh In On Acadia Realty Trust

A number of hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its stake in Acadia Realty Trust by 22.0% in the 4th quarter. Hsbc Holdings PLC now owns 217,339 shares of the real estate investment trust’s stock valued at $4,464,000 after buying an additional 39,212 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Acadia Realty Trust in the 4th quarter valued at $211,000. First Citizens Bank & Trust Co. bought a new stake in shares of Acadia Realty Trust in the 4th quarter worth about $261,000. Virtus Investment Advisers LLC acquired a new stake in shares of Acadia Realty Trust during the 4th quarter worth about $162,000. Finally, Wellington Management Group LLP bought a new position in Acadia Realty Trust during the 4th quarter valued at about $42,330,000. 97.65% of the stock is owned by institutional investors and hedge funds.

Acadia Realty Trust Company Profile

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.