Acadia Realty Trust (NYSE:AKR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.75 and traded as high as $23.60. Acadia Realty Trust shares last traded at $23.07, with a volume of 1,137,283 shares.
Analysts Set New Price Targets
A number of research firms recently weighed in on AKR. Truist Financial lifted their target price 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. StockNews.com downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Finally, Compass Point upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $23.00.
Check Out Our Latest Stock Analysis on AKR
Acadia Realty Trust Stock Performance
The firm has a 50-day moving average of $24.77 and a 200-day moving average of $22.75. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 254.22, a P/E/G ratio of 6.41 and a beta of 1.47. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to analysts' expectations of $70.88 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Acadia Realty Trust's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current year.
Acadia Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.32%. Acadia Realty Trust's payout ratio is 844.44%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of AKR. Geode Capital Management LLC lifted its position in Acadia Realty Trust by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust's stock worth $62,033,000 after acquiring an additional 63,672 shares during the period. Vestcor Inc grew its stake in Acadia Realty Trust by 2.7% in the 3rd quarter. Vestcor Inc now owns 92,672 shares of the real estate investment trust's stock valued at $2,176,000 after acquiring an additional 2,407 shares during the last quarter. Barclays PLC raised its holdings in shares of Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust's stock worth $18,240,000 after acquiring an additional 81,853 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Acadia Realty Trust by 2.8% during the third quarter. Public Employees Retirement System of Ohio now owns 151,650 shares of the real estate investment trust's stock worth $3,561,000 after acquiring an additional 4,086 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Acadia Realty Trust by 3.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 136,456 shares of the real estate investment trust's stock valued at $3,204,000 after acquiring an additional 5,000 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
About Acadia Realty Trust
(
Get Free Report)
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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