Wall Street Zen Downgrades Acadia Realty Trust (NYSE:AKR) to Sell

Acadia Realty Trust (NYSE:AKR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

AKR has been the subject of several other research reports. 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 report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, January 21st. Finally, Truist Financial reduced their target price on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Acadia Realty Trust currently has an average rating of “Hold” and a consensus target price of $22.33.

Acadia Realty Trust Stock Up 1.4%

Shares of NYSE:AKR opened at $20.27 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of 225.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14. The business has a 50 day simple moving average of $20.55 and a two-hundred day simple moving average of $20.03. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $23.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.06.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly 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). The business had revenue of $104.77 million for 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%.Acadia Realty Trust’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, equities analysts predict that Acadia Realty Trust will post 1.34 EPS for the current year.

Institutional Trading of Acadia Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of AKR. Hantz Financial Services Inc. increased its stake in shares of Acadia Realty Trust by 189.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 902 shares in the last quarter. Danske Bank A S lifted its holdings in Acadia Realty Trust by 600.0% in the 4th quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 1,800 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in 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 purchasing an additional 547 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Acadia Realty Trust during the second quarter worth $47,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of 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 during the last quarter. 97.65% of the stock is 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.