Acadia Realty Trust (AKR) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Acadia Realty Trust (NYSE:AKR) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $33.50.
A number of research analysts recently commented on the company. BMO Capital Markets restated a “buy” rating and issued a $36.00 target price on shares of Acadia Realty Trust in a research note on Wednesday, June 21st. BidaskClub upgraded Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. KeyCorp cut their target price on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, June 28th. Zacks Investment Research lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Boenning Scattergood set a $35.00 target price on Acadia Realty Trust and gave the company a “buy” rating in a research note on Thursday, July 27th.
Several hedge funds and other institutional investors have recently modified their holdings of AKR. BlackRock Inc. raised its stake in shares of Acadia Realty Trust by 9,971.2% in the first quarter. BlackRock Inc. now owns 12,171,692 shares of the real estate investment trust’s stock valued at $365,879,000 after purchasing an additional 12,050,835 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Acadia Realty Trust by 24.2% in the second quarter. Goldman Sachs Group Inc. now owns 5,750,851 shares of the real estate investment trust’s stock valued at $159,874,000 after purchasing an additional 1,118,734 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Acadia Realty Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 13,739,896 shares of the real estate investment trust’s stock valued at $381,969,000 after purchasing an additional 487,984 shares in the last quarter. FMR LLC raised its stake in shares of Acadia Realty Trust by 3.3% in the second quarter. FMR LLC now owns 11,066,494 shares of the real estate investment trust’s stock valued at $307,648,000 after purchasing an additional 348,630 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Acadia Realty Trust in the second quarter valued at $8,804,000.
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Shares of Acadia Realty Trust (AKR) opened at 30.08 on Wednesday. Acadia Realty Trust has a 52 week low of $26.70 and a 52 week high of $35.46. The company has a 50 day moving average of $29.14 and a 200-day moving average of $28.90. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 46.56 and a beta of 0.60.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The company had revenue of $59.50 million during the quarter, compared to analysts’ expectations of $53.72 million. During the same period in the prior year, the business earned $0.37 earnings per share. Acadia Realty Trust’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, equities research analysts expect that Acadia Realty Trust will post $0.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.46%. Acadia Realty Trust’s payout ratio is 162.50%.
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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