Acadia Realty Trust (NYSE:AKR) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently commented on AKR. Citigroup upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $23.00 in a research note on Friday, September 12th. Wall Street Zen raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. LADENBURG THALM/SH SH began coverage on shares of Acadia Realty Trust in a report on Tuesday, September 9th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

Acadia Realty Trust Trading Down 1.2%

NYSE:AKR opened at $20.00 on Thursday. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The firm has a fifty day simple moving average of $19.60 and a 200-day simple moving average of $19.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $2.62 billion, a P/E ratio of 124.98, a PEG ratio of 4.03 and a beta of 1.47.

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 the consensus estimate of $0.33 by ($0.01). Acadia Realty Trust had a return on equity of 0.79% and a net margin of 5.31%.The company had revenue of $98.30 million for the quarter, compared to analyst estimates of $81.89 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. On average, equities research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Acadia Realty Trust’s payout ratio is presently 500.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKR. Hantz Financial Services Inc. increased its holdings in Acadia Realty Trust by 189.5% in the second quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 902 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Acadia Realty Trust by 32.8% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Acadia Realty Trust in the second quarter valued at $47,000. EverSource Wealth Advisors LLC increased its holdings in 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 valued at $55,000 after buying an additional 2,309 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 in the last quarter. Hedge funds and other 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.