Truist Financial Cuts Acadia Realty Trust (NYSE:AKR) Price Target to $23.00

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

Separately, StockNews.com lowered shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.00.

Acadia Realty Trust Trading Up 2.2 %

Shares of NYSE:AKR traded up $0.46 during midday trading on Tuesday, reaching $21.19. The company's stock had a trading volume of 773,609 shares, compared to its average volume of 1,055,277. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50 day moving average price of $22.55 and a two-hundred day moving average price of $23.54. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 117.72, a PEG ratio of 6.09 and a beta of 1.49.

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Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted 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 return on equity of 0.88% and a net margin of 5.74%. As a group, analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Acadia Realty Trust's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 3.78%. Acadia Realty Trust's dividend payout ratio (DPR) is currently 444.44%.

Insider Activity at Acadia Realty Trust

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acadia Realty Trust

Institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in shares of Acadia Realty Trust by 91.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 717 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Acadia Realty Trust during the 4th quarter valued at $46,000. Sterling Capital Management LLC raised its position in shares of Acadia Realty Trust by 960.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust's stock worth $89,000 after buying an additional 3,344 shares in the last quarter. USA Financial Formulas grew 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 buying an additional 489 shares in the last quarter. Finally, KBC Group NV increased its position 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 worth $114,000 after purchasing an additional 1,448 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.