JPMorgan Chase & Co. Boosts Acadia Realty Trust (NYSE:AKR) Price Target to $22.00

Acadia Realty Trust (NYSE:AKR) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $21.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.72% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Truist Financial dropped their target price on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Citigroup upped their price target on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.25.

Acadia Realty Trust Price Performance

Shares of NYSE AKR opened at $19.35 on Friday. The company has a 50 day simple moving average of $20.54 and a two-hundred day simple moving average of $20.21. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $22.36. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 214.97, a P/E/G ratio of 1.94 and a beta of 1.09. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AKR. Hsbc Holdings PLC boosted its position in shares of Acadia Realty Trust by 22.0% during the fourth quarter. Hsbc Holdings PLC now owns 217,339 shares of the real estate investment trust’s stock valued at $4,464,000 after buying an additional 39,212 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Acadia Realty Trust in the 4th quarter worth about $211,000. First Citizens Bank & Trust Co. bought a new position in Acadia Realty Trust during the 4th quarter valued at about $261,000. Virtus Investment Advisers LLC bought a new position in Acadia Realty Trust during the 4th quarter valued at about $162,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Acadia Realty Trust during the 4th quarter valued at about $42,330,000. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Company Profile

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.