Acadia Realty Trust (AKR) Rating Increased to Sell at BidaskClub
Acadia Realty Trust (NYSE:AKR) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets restated a “buy” rating and issued a $36.00 price target on shares of Acadia Realty Trust in a report on Wednesday, April 5th. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. Citigroup Inc. reiterated a “neutral” rating and set a $30.00 target price (down from $35.00) on shares of Acadia Realty Trust in a research note on Tuesday, June 6th. Finally, TheStreet cut Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $35.75.
Shares of Acadia Realty Trust (NYSE:AKR) traded down 1.04% during mid-day trading on Wednesday, reaching $28.58. 334,786 shares of the company traded hands. The firm’s 50 day moving average price is $28.09 and its 200-day moving average price is $30.79. The company has a market capitalization of $2.42 billion, a P/E ratio of 38.99 and a beta of 0.60. Acadia Realty Trust has a 52-week low of $26.70 and a 52-week high of $38.01.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The firm had revenue of $62 million during the quarter, compared to analysts’ expectations of $45.41 million. Acadia Realty Trust had a return on equity of 2.92% and a net margin of 27.19%. Acadia Realty Trust’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. Equities analysts predict that Acadia Realty Trust will post $0.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Wednesday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 140.54%.
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In other news, insider Christopher Conlon sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $31.04, for a total transaction of $232,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.74% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC boosted its position in Acadia Realty Trust by 31.9% in the fourth quarter. William Blair Investment Management LLC now owns 674,911 shares of the real estate investment trust’s stock valued at $22,056,000 after buying an additional 163,421 shares during the period. Comerica Bank boosted its position in Acadia Realty Trust by 7.2% in the fourth quarter. Comerica Bank now owns 86,303 shares of the real estate investment trust’s stock valued at $2,764,000 after buying an additional 5,827 shares during the period. Macquarie Group Ltd. boosted its position in Acadia Realty Trust by 817.9% in the fourth quarter. Macquarie Group Ltd. now owns 25,700 shares of the real estate investment trust’s stock valued at $840,000 after buying an additional 22,900 shares during the period. FMR LLC boosted its position in Acadia Realty Trust by 0.7% in the fourth quarter. FMR LLC now owns 11,165,261 shares of the real estate investment trust’s stock valued at $364,881,000 after buying an additional 76,021 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Acadia Realty Trust by 24.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,567 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 1,305 shares during the period.
About Acadia Realty Trust
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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