Truist Financial Has Lowered Expectations for Acadia Realty Trust (NYSE:AKR) Stock Price

Acadia Realty Trust (NYSE:AKR) had its price target reduced by Truist Financial from $23.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target points to a potential upside of 6.95% from the company’s previous close.

A number of other brokerages have also recently weighed in on AKR. Citigroup raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $23.00 in a research report on Friday, September 12th. Wall Street Zen raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, October 8th. Zacks Research downgraded Acadia Realty Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, October 2nd. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Acadia Realty Trust in a research note on Tuesday, September 9th. They issued a “neutral” rating and a $21.00 price objective for the company. Two 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.00.

Acadia Realty Trust Trading Up 0.4%

Shares of NYSE AKR opened at $20.57 on Friday. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 171.43, a PEG ratio of 2.78 and a beta of 1.44. The business has a 50 day simple moving average of $19.84 and a 200 day simple moving average of $19.44. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $26.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.06.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $101.01 million for the quarter, compared to analyst estimates of $92.78 million. Acadia Realty Trust had a net margin of 4.21% and a return on equity of 0.63%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.340 EPS. On average, research analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in AKR. Hantz Financial Services Inc. raised its holdings in Acadia Realty Trust by 189.5% during the 2nd 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 during the last quarter. Osaic Holdings Inc. grew its position in shares of Acadia Realty Trust by 32.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 547 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $47,000. EverSource Wealth Advisors LLC raised its stake in shares of Acadia Realty Trust by 342.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 2,309 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Acadia Realty Trust by 57.7% in the second quarter. GAMMA Investing LLC now owns 5,120 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 1,873 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

About Acadia Realty Trust

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.