Acadia Realty Trust (NYSE:AKR - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Tuesday.
AKR has been the subject of a number of other research reports. Compass Point upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price target for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.60.
Check Out Our Latest Stock Report on AKR
Acadia Realty Trust Price Performance
AKR traded down $0.25 during trading on Tuesday, reaching $24.35. The company's stock had a trading volume of 1,499,184 shares, compared to its average volume of 986,304. 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 firm has a fifty day simple moving average of $23.13 and a two-hundred day simple moving average of $20.05. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $24.75. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 304.38, a PEG ratio of 6.30 and a beta of 1.47.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results 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). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business had revenue of $87.70 million during the quarter, compared to analysts' expectations of $70.88 million. During the same period last year, the business earned $0.27 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Acadia Realty Trust will post 1.29 EPS for the current year.
Hedge Funds Weigh In On Acadia Realty Trust
Several institutional investors have recently modified their holdings of AKR. Allspring Global Investments Holdings LLC purchased a new stake in shares of Acadia Realty Trust during the 1st quarter worth $58,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Acadia Realty Trust by 3.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,520 shares of the real estate investment trust's stock worth $1,965,000 after purchasing an additional 3,387 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Acadia Realty Trust by 7.0% during the 1st quarter. State of Alaska Department of Revenue now owns 109,813 shares of the real estate investment trust's stock worth $1,866,000 after purchasing an additional 7,228 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Acadia Realty Trust by 6.4% during the 1st quarter. Maryland State Retirement & Pension System now owns 36,854 shares of the real estate investment trust's stock worth $615,000 after purchasing an additional 2,203 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Acadia Realty Trust by 80.1% during the 1st quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust's stock worth $941,000 after purchasing an additional 24,609 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.
Acadia Realty Trust Company Profile
(
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.
Further Reading
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