Acadia Realty Trust (AKR) Receives Consensus Recommendation of “Hold” from Brokerages
Acadia Realty Trust (NYSE:AKR) has been assigned a consensus rating of “Hold” from the six research firms that are covering the company. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $36.67.
A number of research firms have weighed in on AKR. Zacks Investment Research raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 7th. TheStreet lowered shares of Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $36.00 target price on shares of Acadia Realty Trust in a research note on Thursday, January 12th.
In other Acadia Realty Trust news, Director Wendy W. Luscombe sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $31.69, for a total value of $47,535.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Napolitano sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $32.17, for a total transaction of $241,275.00. Following the completion of the transaction, the insider now directly owns 7,618 shares in the company, valued at $245,071.06. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $755,535 over the last three months. Corporate insiders own 2.22% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. raised its position in Acadia Realty Trust by 2.5% in the third quarter. American International Group Inc. now owns 54,162 shares of the real estate investment trust’s stock worth $1,963,000 after buying an additional 1,304 shares during the period. California State Teachers Retirement System raised its position in Acadia Realty Trust by 13.8% in the third quarter. California State Teachers Retirement System now owns 169,293 shares of the real estate investment trust’s stock worth $6,135,000 after buying an additional 20,500 shares during the period. State of Tennessee Treasury Department raised its position in Acadia Realty Trust by 13.5% in the third quarter. State of Tennessee Treasury Department now owns 63,884 shares of the real estate investment trust’s stock worth $2,315,000 after buying an additional 7,600 shares during the period. SG Americas Securities LLC raised its position in Acadia Realty Trust by 226.9% in the third quarter. SG Americas Securities LLC now owns 18,785 shares of the real estate investment trust’s stock worth $681,000 after buying an additional 13,038 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Acadia Realty Trust by 14.0% in the third quarter. Ameriprise Financial Inc. now owns 398,879 shares of the real estate investment trust’s stock worth $14,457,000 after buying an additional 48,994 shares during the period.
Acadia Realty Trust (NYSE:AKR) opened at 28.04 on Friday. The stock has a market capitalization of $2.38 billion, a P/E ratio of 38.25 and a beta of 0.60. The stock has a 50 day moving average price of $30.03 and a 200 day moving average price of $31.76. Acadia Realty Trust has a 12 month low of $27.98 and a 12 month high of $38.01.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. The firm had revenue of $62 million for the quarter, compared to analyst estimates of $45.41 million. Acadia Realty Trust had a net margin of 29.38% and a return on equity of 3.56%. Acadia Realty Trust’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. Equities analysts predict that Acadia Realty Trust will post $0.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.71%. Acadia Realty Trust’s dividend payout ratio (DPR) is 122.35%.
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Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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