Acadia Realty Trust (NYSE:AKR - Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 8,340,000 shares, an increase of 233.6% from the September 30th total of 2,500,000 shares. Based on an average daily trading volume, of 895,700 shares, the short-interest ratio is currently 9.3 days.
Acadia Realty Trust Stock Down 1.1 %
Acadia Realty Trust stock traded down $0.26 during mid-day trading on Friday, reaching $24.01. The stock had a trading volume of 562,600 shares, compared to its average volume of 980,706. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $24.75. The stock's 50-day simple moving average is $22.95 and its 200-day simple moving average is $19.85. The firm has a market capitalization of $2.53 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 6.30 and a beta of 1.47.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The business had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. During the same quarter last year, the firm posted $0.36 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.29 EPS for the current fiscal year.
Acadia Realty Trust Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.19 dividend. This is a boost from Acadia Realty Trust's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 3.17%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on AKR shares. StockNews.com downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, October 14th. Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial raised their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $21.60.
View Our Latest Stock Analysis on Acadia Realty Trust
Institutional Trading of Acadia Realty Trust
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. GAMMA Investing LLC boosted its holdings in Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 572 shares during the last quarter. USA Financial Formulas bought a new position in shares of Acadia Realty Trust in the third quarter valued at approximately $80,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust during the first quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Acadia Realty Trust by 35.0% during 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 acquiring an additional 1,039 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Acadia Realty Trust during the second quarter worth $103,000. 97.65% of the stock is owned by 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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