Acadia Realty Trust (NYSE:AKR) Price Target Cut to $23.00 by Analysts at Truist Financial

by · The Cerbat Gem

Acadia Realty Trust (NYSE:AKR – Free Report) had its price target trimmed by Truist Financial from $25.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Separately, StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.00.

Check Out Our Latest Report on AKR

Acadia Realty Trust Trading Down 8.0 %

NYSE:AKR opened at $19.49 on Tuesday. The company has a market capitalization of $2.33 billion, a PE ratio of 108.25, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a 52-week low of $16.14 and a 52-week high of $26.29. The stock has a fifty day simple moving average of $22.49 and a 200-day simple moving average of $23.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61.

Acadia Realty Trust (NYSE:AKR – Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. On average, equities research analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.20 dividend. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 4.11%. The ex-dividend date is Monday, March 31st. Acadia Realty Trust’s payout ratio is presently 444.44%.

Insiders Place Their Bets

In other news, EVP Jason Blacksberg sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On Acadia Realty Trust

A number of institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 717 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Acadia Realty Trust during the 4th quarter worth $46,000. Sterling Capital Management LLC raised its position in shares of Acadia Realty Trust by 960.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 3,344 shares during the period. USA Financial Formulas boosted its holdings in Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 489 shares during the last quarter. Finally, KBC Group NV grew its position in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 1,448 shares during the period. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

About Acadia Realty Trust

(Get Free Report)

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

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