Brokerages Set Acadia Realty Trust (NYSE:AKR) Price Target at $21.60

Acadia Realty Trust (NYSE:AKR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.60.

Several brokerages recently issued reports on AKR. Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial increased their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, October 14th.

Acadia Realty Trust Trading Down 1.0 %

AKR stock traded down $0.25 during mid-day trading on Tuesday, reaching $24.35. 1,499,184 shares of the stock traded hands, compared to its average volume of 986,304. The stock's fifty day moving average is $23.07 and its 200-day moving average is $20.00. The company has a market cap of $2.51 billion, a P/E ratio of 306.00, a P/E/G ratio of 6.30 and a beta of 1.47. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $24.75.

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 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same period in the prior year, the business posted $0.27 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Institutional Trading of Acadia Realty Trust

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Acadia Realty Trust by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 16,682,822 shares of the real estate investment trust's stock valued at $283,775,000 after buying an additional 1,192,138 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Acadia Realty Trust by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,848,246 shares of the real estate investment trust's stock valued at $150,511,000 after purchasing an additional 388,067 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Acadia Realty Trust by 5.4% in 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 purchasing an additional 75,233 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Acadia Realty Trust by 0.7% during the 2nd 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 purchasing an additional 8,739 shares during the last quarter. Finally, Easterly Investment Partners LLC bought a new stake in Acadia Realty Trust during the 1st quarter valued at approximately $18,139,000. 97.65% of the stock is owned by institutional investors.

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.