Acadia Realty Trust (NYSE:AKR) Raised to Buy at Citigroup

Acadia Realty Trust (NYSE:AKR) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports. The firm presently has a $23.00 target price on the real estate investment trust’s stock, up from their previous target price of $20.00. Citigroup’s target price indicates a potential upside of 14.03% from the stock’s previous close.

A number of other analysts have also recently commented on AKR. Wall Street Zen cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. LADENBURG THALM/SH SH started coverage on Acadia Realty Trust in a report on Tuesday, September 9th. They set a “neutral” rating and a $21.00 price target for the company. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Acadia Realty Trust has an average rating of “Moderate Buy” and an average target price of $23.50.

Acadia Realty Trust Stock Up 2.0%

Acadia Realty Trust stock opened at $20.17 on Friday. The stock has a market cap of $2.64 billion, a PE ratio of 126.07, a price-to-earnings-growth ratio of 3.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.05. Acadia Realty Trust has a one year low of $16.98 and a one year high of $26.29. The stock has a fifty day moving average of $19.13 and a 200 day moving average of $19.64.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $98.30 million for the quarter, compared to analysts’ expectations of $81.89 million. Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 EPS. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. As a group, sell-side analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its stake in Acadia Realty Trust by 32.8% during the second 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 last quarter. Thrivent Financial for Lutherans raised its position in Acadia Realty Trust by 9.6% during the second quarter. Thrivent Financial for Lutherans now owns 96,298 shares of the real estate investment trust’s stock valued at $1,788,000 after purchasing an additional 8,407 shares during the period. State of Wyoming raised its position in Acadia Realty Trust by 10.8% during the second quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 543 shares during the period. Hudson Bay Capital Management LP lifted its stake in shares of Acadia Realty Trust by 25.4% during the 2nd quarter. Hudson Bay Capital Management LP now owns 2,325,956 shares of the real estate investment trust’s stock worth $43,193,000 after acquiring an additional 471,103 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in Acadia Realty Trust by 17.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 446,435 shares of the real estate investment trust’s stock valued at $8,290,000 after acquiring an additional 67,008 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

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.