Short Interest in Acadia Realty Trust (NYSE:AKR) Grows By 10.1%

Acadia Realty Trust (NYSE:AKR) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,370,000 shares, a growth of 10.1% from the March 31st total of 3,060,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is presently 2.9 days.

Acadia Realty Trust Stock Down 1.1 %

AKR opened at $17.09 on Thursday. The firm has a 50-day simple moving average of $16.75 and a two-hundred day simple moving average of $16.25. Acadia Realty Trust has a 52 week low of $12.37 and a 52 week high of $17.90. The company has a market capitalization of $1.76 billion, a PE ratio of 216.25, a price-to-earnings-growth ratio of 11.75 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust’s payout ratio is 900.00%.

Analysts Set New Price Targets

AKR has been the subject of several recent analyst reports. Truist Financial downgraded shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Tuesday, January 16th. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capstone Investment Advisors LLC bought a new position in shares of Acadia Realty Trust in the 1st quarter valued at about $260,000. BNP Paribas Financial Markets lifted its holdings in shares of Acadia Realty Trust by 80.1% in the 1st quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock valued at $941,000 after acquiring an additional 24,609 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Acadia Realty Trust in the 1st quarter valued at about $58,000. Principal Financial Group Inc. lifted its holdings in shares of Acadia Realty Trust by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 580,469 shares of the real estate investment trust’s stock valued at $9,874,000 after acquiring an additional 83,794 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Acadia Realty Trust by 6.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 50,700 shares of the real estate investment trust’s stock valued at $862,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

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.