Acadia Realty Trust (NYSE:AKR) Price Target Cut to $23.00 by Analysts at Compass Point

Acadia Realty Trust (NYSE:AKR – Get Rating) had its target price cut by investment analysts at Compass Point from $25.00 to $23.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Compass Point’s target price would suggest a potential upside of 46.12% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Acadia Realty Trust from $23.00 to $19.00 in a research note on Wednesday, June 15th. StockNews.com initiated coverage on Acadia Realty Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial reduced their price objective on Acadia Realty Trust from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday.

Shares of AKR opened at $15.74 on Wednesday. The business’s 50 day moving average is $19.44 and its 200 day moving average is $20.58. The company has a market capitalization of $1.49 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.33. Acadia Realty Trust has a 12-month low of $15.56 and a 12-month high of $23.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.76.

Acadia Realty Trust (NYSE:AKR – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). Acadia Realty Trust had a return on equity of 1.48% and a net margin of 11.45%. During the same period in the prior year, the company posted $0.25 earnings per share. Equities research analysts predict that Acadia Realty Trust will post 1.25 earnings per share for the current year.

In other news, Director Wendy W. Luscombe sold 1,500 shares of Acadia Realty Trust stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $21.18, for a total value of $31,770.00. Following the completion of the transaction, the director now owns 33,399 shares in the company, valued at approximately $707,390.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.75% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in Acadia Realty Trust by 53.0% during the 1st quarter. First Trust Advisors LP now owns 75,406 shares of the real estate investment trust’s stock valued at $2,056,000 after acquiring an additional 26,111 shares during the period. Millennium Management LLC purchased a new position in Acadia Realty Trust during the 2nd quarter valued at $550,000. Morgan Stanley boosted its holdings in Acadia Realty Trust by 140.3% during the 2nd quarter. Morgan Stanley now owns 547,968 shares of the real estate investment trust’s stock valued at $12,033,000 after acquiring an additional 319,974 shares during the period. Renaissance Technologies LLC boosted its holdings in Acadia Realty Trust by 93.0% during the 3rd quarter. Renaissance Technologies LLC now owns 153,601 shares of the real estate investment trust’s stock valued at $3,135,000 after acquiring an additional 74,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Acadia Realty Trust by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,379,306 shares of the real estate investment trust’s stock valued at $28,154,000 after acquiring an additional 5,753 shares during the period. Hedge funds and other institutional investors own 98.23% of the company’s stock.

Acadia Realty Trust Company Profile (Get Rating)

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.

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