Acadia Realty Trust (NYSE:AKR) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on AKR. Citigroup increased their price target on Acadia Realty Trust from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Truist Financial assumed coverage on Acadia Realty Trust in a research report on Thursday, October 1st. They set a “buy” rating and a $22.00 price objective for the company. Weiss Ratings lowered Acadia Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Finally, KeyCorp restated an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.80.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $19.04 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.13. Acadia Realty Trust has a one year low of $17.96 and a one year high of $23.03. The company’s 50-day simple moving average is $19.33 and its 200-day simple moving average is $20.62. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 2.08 and a beta of 1.11.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Acadia Realty Trust’s dividend payout ratio is currently 235.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AKR. Corient Private Wealth LP raised its holdings in Acadia Realty Trust by 1.0% during the second quarter. Corient Private Wealth LP now owns 73,910 shares of the real estate investment trust’s stock worth $1,545,000 after purchasing an additional 722 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in Acadia Realty Trust by 145.1% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 969 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Acadia Realty Trust by 49.0% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,032 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 1,326 shares in the last quarter. Nykredit A S bought a new position in Acadia Realty Trust during the 2nd quarter valued at $47,000. Finally, Resona Asset Management Co. Ltd. increased its position in shares of Acadia Realty Trust by 4.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 57,902 shares of the real estate investment trust’s stock valued at $1,095,000 after purchasing an additional 2,463 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.