Acadia Realty Trust (NYSE:AKR) Cut to Strong Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Acadia Realty Trust (NYSE:AKR – Free Report) from a sell rating to a strong sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. KeyCorp restated an “overweight” rating on shares of Acadia Realty Trust in a report on Wednesday, September 23rd. Truist Financial initiated coverage on shares of Acadia Realty Trust in a report on Thursday, October 1st. They issued a “buy” rating and a $22.00 price target for the company. Weiss Ratings cut shares of Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. Finally, Citigroup increased their price objective on Acadia Realty Trust from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

View Our Latest Stock Analysis on Acadia Realty Trust

Acadia Realty Trust Stock Performance

AKR stock opened at $19.85 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $2.74 billion, a P/E ratio of 70.88, a P/E/G ratio of 2.18 and a beta of 1.11. The firm has a 50 day simple moving average of $19.15 and a 200 day simple moving average of $20.58. Acadia Realty Trust has a 52 week low of $17.96 and a 52 week high of $23.03.

Acadia Realty Trust (NYSE:AKR – Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.34). The company had revenue of $94.98 million for the quarter, compared to analysts’ expectations of $94.38 million. Acadia Realty Trust had a net margin of 10.23% and a return on equity of 1.54%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. Research analysts anticipate that Acadia Realty Trust will post 1.25 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, December 31st. Acadia Realty Trust’s payout ratio is currently 285.71%.

Institutional Trading of Acadia Realty Trust

A number of hedge funds have recently modified their holdings of AKR. Corient Private Wealth LP boosted its holdings in shares of Acadia Realty Trust by 1.0% during the 2nd quarter. Corient Private Wealth LP now owns 73,910 shares of the real estate investment trust’s stock worth $1,545,000 after buying an additional 722 shares during the period. Salomon & Ludwin LLC raised its holdings in Acadia Realty Trust by 145.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 969 shares during the period. Russell Investments Group Ltd. raised its holdings in Acadia Realty Trust by 0.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 255,679 shares of the real estate investment trust’s stock valued at $4,791,000 after acquiring an additional 1,182 shares during the period. Pinnacle Wealth Planning Services Inc. raised its holdings in Acadia Realty Trust by 49.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,032 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 1,326 shares during the period. Finally, Nykredit A S acquired a new stake in Acadia Realty Trust during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

(Get Free Report)

Acadia Realty Trust is an equity real estate investment trust that owns, operates and invests in retail properties. Its portfolio includes shopping centers and urban street-retail properties, with tenants spanning a range of retail and service businesses. The company focuses on high-barrier-to-entry markets in the United States, including major metropolitan areas. It combines a portfolio of directly owned properties with investment funds through which it partners on additional real estate investments.

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