Brokerages Set Acadia Realty Trust (NYSE:AKR) Target Price at $22.25

Shares of Acadia Realty Trust (NYSE:AKR) have earned an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $22.25.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its holdings in shares of Acadia Realty Trust by 1.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,012 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 500 shares during the period. State of Wyoming grew its position in shares of Acadia Realty Trust by 10.8% in the second quarter. State of Wyoming now owns 5,581 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 543 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Acadia Realty Trust by 32.8% during the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 547 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Acadia Realty Trust by 2.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 19,389 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 554 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Acadia Realty Trust by 1.8% during the 4th quarter. Captrust Financial Advisors now owns 34,520 shares of the real estate investment trust’s stock worth $709,000 after purchasing an additional 624 shares during the last quarter. 97.65% of the stock is owned by institutional investors.

Acadia Realty Trust Stock Up 0.1%

Acadia Realty Trust stock opened at $18.79 on Friday. 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’s 50-day moving average is $20.35 and its 200-day moving average is $20.19. The firm has a market capitalization of $2.46 billion, a PE ratio of 208.75, a P/E/G ratio of 1.88 and a beta of 1.09. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $22.36.

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

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.3%. Acadia Realty Trust’s payout ratio is presently 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.