Acadia Realty Trust (NYSE:AKR) Receives $22.25 Average Target Price from Analysts

Shares of Acadia Realty Trust (NYSE:AKR) have earned a consensus recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $22.25.

AKR has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Citigroup lifted their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. lifted their target price on shares of Acadia Realty Trust from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, March 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Monday. Finally, Wall Street Zen lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of AKR. Oregon Public Employees Retirement Fund grew its holdings in shares of Acadia Realty Trust by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,012 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 500 shares during the period. State of Wyoming grew its holdings in shares of Acadia Realty Trust by 10.8% in the 2nd quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 543 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Acadia Realty Trust by 32.8% in the 2nd 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 period. Maryland State Retirement & Pension System grew its holdings in shares of Acadia Realty Trust by 2.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 19,389 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 554 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of Acadia Realty Trust by 1.8% in the 4th quarter. Captrust Financial Advisors now owns 34,520 shares of the real estate investment trust’s stock valued at $709,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $20.93 on Tuesday. Acadia Realty Trust has a 1 year low of $18.04 and a 1 year high of $22.36. The firm has a 50 day moving average of $20.34 and a 200-day moving average of $20.22. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.74 billion, a P/E ratio of 232.54, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted $0.32 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.23 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 888.89%.

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.