Short Interest in Acadia Realty Trust (NYSE:AKR) Rises By 21.7%

Acadia Realty Trust (NYSE:AKR - Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 12,390,000 shares, a growth of 21.7% from the December 15th total of 10,180,000 shares. Based on an average trading volume of 1,340,000 shares, the short-interest ratio is currently 9.2 days.

Hedge Funds Weigh In On Acadia Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of AKR. USA Financial Formulas acquired a new stake in shares of Acadia Realty Trust in the 3rd quarter worth $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 1,039 shares during the period. Algert Global LLC acquired a new stake in Acadia Realty Trust in the second quarter valued at about $186,000. Custom Index Systems LLC purchased a new stake in Acadia Realty Trust in the 3rd quarter valued at approximately $202,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Acadia Realty Trust during the 3rd quarter worth approximately $202,000. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. StockNews.com downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Finally, Compass Point raised Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $23.00.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock traded down $0.26 during trading on Friday, reaching $22.64. The company's stock had a trading volume of 551,143 shares, compared to its average volume of 1,009,813. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.71 billion, a PE ratio of 251.59, a P/E/G ratio of 5.34 and a beta of 1.47. The company has a 50-day moving average price of $24.47 and a two-hundred day moving average price of $22.92.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.25). The company had revenue of $87.70 million for the quarter, compared to analysts' expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. On average, analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Tuesday, December 31st. Acadia Realty Trust's dividend payout ratio is presently 844.44%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.