Acadia Realty Trust (AKR) Given Average Recommendation of “Hold” by Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have earned a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $33.67.

A number of analysts have recently issued reports on AKR shares. KeyCorp cut Acadia Realty Trust from an “overweight” rating to a “hold” rating in a report on Monday, November 20th. Boenning Scattergood set a $35.00 target price on Acadia Realty Trust and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th.

A number of institutional investors have recently added to or reduced their stakes in AKR. Swiss National Bank raised its position in shares of Acadia Realty Trust by 6.3% in the 2nd quarter. Swiss National Bank now owns 141,100 shares of the real estate investment trust’s stock valued at $3,923,000 after purchasing an additional 8,300 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Acadia Realty Trust by 11.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 325,544 shares of the real estate investment trust’s stock valued at $9,049,000 after purchasing an additional 33,321 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Acadia Realty Trust by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 135,457 shares of the real estate investment trust’s stock valued at $3,765,000 after purchasing an additional 3,872 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Acadia Realty Trust by 135.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Acadia Realty Trust by 18.9% in the 2nd quarter. Teachers Advisors LLC now owns 151,012 shares of the real estate investment trust’s stock valued at $4,198,000 after purchasing an additional 23,982 shares in the last quarter.

Shares of Acadia Realty Trust (AKR) traded up $0.19 during trading hours on Friday, hitting $25.23. The stock had a trading volume of 474,903 shares, compared to its average volume of 343,320. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.48. Acadia Realty Trust has a 1-year low of $24.83 and a 1-year high of $32.89. The stock has a market cap of $2,095.99, a PE ratio of 35.54, a P/E/G ratio of 1.93 and a beta of 0.61.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Acadia Realty Trust had a return on equity of 2.77% and a net margin of 25.34%. The business had revenue of $51.70 million during the quarter, compared to analysts’ expectations of $55.94 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. research analysts expect that Acadia Realty Trust will post 1.47 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.28%. Acadia Realty Trust’s payout ratio is 152.11%.

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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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