Acadia Realty Trust (NYSE:AKR) Sees Significant Growth in Short Interest

Acadia Realty Trust (NYSE:AKR - Get Free Report) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,260,000 shares, a growth of 35.0% from the November 15th total of 6,120,000 shares. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 7.4 days.

Acadia Realty Trust Trading Up 0.6 %

AKR traded up $0.15 during trading on Friday, reaching $25.35. The company had a trading volume of 1,317,591 shares, compared to its average volume of 1,027,089. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 52 week low of $16.09 and a 52 week high of $26.29. The stock has a market cap of $3.03 billion, a P/E ratio of 281.67, a PEG ratio of 6.32 and a beta of 1.46. The business has a 50 day simple moving average of $24.73 and a 200-day simple moving average of $21.85.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. During the same quarter last year, the business posted $0.27 EPS. Acadia Realty Trust's revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.00%. Acadia Realty Trust's dividend payout ratio is 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

A number of large investors have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust during the third quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust's stock worth $93,000 after purchasing an additional 1,039 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Acadia Realty Trust in the second quarter worth about $103,000. Algert Global LLC bought a new position in shares of Acadia Realty Trust in the second quarter worth about $186,000. Finally, Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust in the third quarter worth about $202,000. Hedge funds and other institutional investors own 97.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AKR shares. Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial upped their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.40.

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.

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