Short Interest in Acadia Realty Trust (NYSE:AKR) Increases By 23.2%

Acadia Realty Trust (NYSE:AKR - Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 10,180,000 shares, a growth of 23.2% from the November 30th total of 8,260,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 7.6 days.

Acadia Realty Trust Stock Performance

NYSE:AKR traded up $0.17 during trading hours on Tuesday, reaching $24.16. 1,239,266 shares of the company's stock were exchanged, compared to its average volume of 1,078,249. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 268.44, a P/E/G ratio of 6.41 and a beta of 1.46. The company has a 50-day moving average of $24.83 and a 200 day moving average of $22.48. 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 (NYSE:AKR - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.25). The firm had revenue of $87.70 million during the quarter, compared to analysts' expectations of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. Research analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The firm 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. This represents a $0.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust's dividend payout ratio (DPR) is currently 844.44%.

Institutional Trading of Acadia Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Acadia Realty Trust by 290.3% in the third quarter. FMR LLC now owns 9,578,771 shares of the real estate investment trust's stock valued at $224,910,000 after buying an additional 7,124,403 shares in the last quarter. Geode Capital Management LLC lifted its stake in Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust's stock valued at $62,033,000 after buying an additional 63,672 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Acadia Realty Trust by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,930,601 shares of the real estate investment trust's stock valued at $45,331,000 after buying an additional 83,180 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Acadia Realty Trust by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,469,739 shares of the real estate investment trust's stock worth $26,337,000 after buying an additional 75,233 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Acadia Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust's stock worth $21,090,000 after acquiring an additional 8,739 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company's stock.

Analyst Ratings Changes

AKR has been the topic of several research reports. StockNews.com cut shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, December 2nd. Compass Point raised shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial increased their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $22.40.

About Acadia Realty Trust

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.