Acadia Realty Trust (NYSE:AKR) Lifted to "Buy" at Compass Point

Acadia Realty Trust (NYSE:AKR - Get Free Report) was upgraded by research analysts at Compass Point from a "neutral" rating to a "buy" rating in a report released on Thursday, MarketBeat reports. The firm currently has a $27.00 price objective on the real estate investment trust's stock, up from their previous price objective of $23.00. Compass Point's target price indicates a potential upside of 15.78% from the stock's current price.

Several other analysts have also recently issued reports on the company. Truist Financial increased their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an "underweight" rating to a "neutral" rating and set a $18.00 target price for the company in a research report on Wednesday, June 26th. Finally, StockNews.com upgraded Acadia Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, September 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $21.60.

Acadia Realty Trust Stock Performance

AKR traded up $0.10 during midday trading on Thursday, reaching $23.32. The company had a trading volume of 1,543,837 shares, compared to its average volume of 991,351. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $22.37 and a two-hundred day moving average of $19.32. The company has a market cap of $2.41 billion, a P/E ratio of 291.50, a P/E/G ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $23.56.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business had revenue of $87.25 million for the quarter, compared to analysts' expectations of $70.16 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acadia Realty Trust

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 572 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Acadia Realty Trust in the 3rd quarter valued at approximately $80,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Acadia Realty Trust in the 1st quarter valued at approximately $58,000. SG Americas Securities LLC bought a new stake in shares of Acadia Realty Trust in the 2nd quarter valued at approximately $103,000. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Acadia Realty Trust by 8.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust's stock valued at $171,000 after purchasing an additional 740 shares during the last quarter. 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.