Acadia Realty Trust (NYSE:AKR) Upgraded at Zacks Research

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

AKR has been the subject of several other reports. Citigroup boosted their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Truist Financial cut their price target on shares of 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 note on Wednesday, January 21st. Wall Street Zen cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on Acadia Realty Trust from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, March 20th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $22.25.

Acadia Realty Trust Stock Down 0.1%

AKR opened at $19.17 on Monday. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $22.36. The business has a 50-day moving average of $20.44 and a 200-day moving average of $20.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $2.51 billion, a PE ratio of 213.01, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09.

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

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, March 31st. Acadia Realty Trust’s dividend payout ratio (DPR) is 888.89%.

Institutional Trading of Acadia Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of AKR. Royal Bank of Canada grew its stake in Acadia Realty Trust by 83.2% in the 1st quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust’s stock valued at $885,000 after buying an additional 19,184 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Acadia Realty Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,734 shares of the real estate investment trust’s stock worth $1,461,000 after acquiring an additional 3,045 shares during the last quarter. Millennium Management LLC boosted its holdings in Acadia Realty Trust by 31.1% during the first quarter. Millennium Management LLC now owns 811,139 shares of the real estate investment trust’s stock valued at $16,993,000 after acquiring an additional 192,267 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Acadia Realty Trust by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust’s stock valued at $17,145,000 after acquiring an additional 82,974 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Acadia Realty Trust in the first quarter valued at about $1,284,000. 97.65% of the stock is currently owned by institutional investors and hedge funds.

About Acadia Realty Trust

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.