Acadia Realty Trust (NYSE:AKR) Rating Lowered to “Sell” at Wall Street Zen

Acadia Realty Trust (NYSE:AKR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities analysts have also weighed in on AKR. Citigroup boosted their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial reduced their price target on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Acadia Realty Trust has a consensus rating of “Hold” and an average price target of $22.33.

Acadia Realty Trust Stock Up 1.4%

Shares of NYSE:AKR opened at $20.27 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $20.55 and a two-hundred day moving average of $20.03. The stock has a market cap of $2.66 billion, a P/E ratio of 225.29, a PEG ratio of 2.00 and a beta of 1.14. Acadia Realty Trust has a 52-week low of $16.98 and a 52-week high of $23.62.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.28). The company had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Institutional Trading of Acadia Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its position in shares of Acadia Realty Trust by 189.5% during the second quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 902 shares in the last quarter. Danske Bank A S lifted its holdings in Acadia Realty Trust by 600.0% during the 4th quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,800 shares in the last quarter. Osaic Holdings Inc. boosted its position in Acadia Realty Trust by 32.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 547 shares during the period. Raymond James Financial Inc. purchased a new position in Acadia Realty Trust in the 2nd quarter valued at approximately $47,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Acadia Realty Trust by 342.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 2,309 shares in the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.