Acadia Realty Trust (NYSE:AKR) Price Target Cut to $23.00 by Analysts at Truist Financial

Acadia Realty Trust (NYSE:AKR - Free Report) had its price objective cut by Truist Financial from $25.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust's stock.

Separately, StockNews.com lowered 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 assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.00.

Acadia Realty Trust Stock Down 6.0 %

NYSE AKR traded down $1.17 during trading hours on Tuesday, hitting $18.31. 1,463,499 shares of the company were exchanged, compared to its average volume of 1,058,347. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 101.69, a PEG ratio of 6.09 and a beta of 1.24. The company has a 50 day moving average of $22.39 and a two-hundred day moving average of $23.48. Acadia Realty Trust has a 52-week low of $16.14 and a 52-week high of $26.29.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly 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%. Equities research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. Acadia Realty Trust's payout ratio is currently 444.44%.

Insider Transactions at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of the firm'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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.83% of the company's stock.

Institutional Investors Weigh In On Acadia Realty Trust

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

Acadia Realty Trust Company Profile

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.