Acadia Realty Trust (NYSE:AKR) Sees Large Growth in Short Interest

by · The Markets Daily

Acadia Realty Trust (NYSE:AKR – Get Free Report) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 12,390,000 shares, a growth of 21.7% from the December 15th total of 10,180,000 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is presently 9.2 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on AKR shares. Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Truist Financial lifted their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.00.

Get Our Latest Stock Report on Acadia Realty Trust

Acadia Realty Trust Trading Down 1.1 %

AKR traded down $0.26 during trading on Friday, hitting $22.64. The company’s stock had a trading volume of 551,143 shares, compared to its average volume of 1,009,813. Acadia Realty Trust has a twelve month low of $16.09 and a twelve month high of $26.29. The stock has a market cap of $2.71 billion, a PE ratio of 251.59, a PEG ratio of 5.34 and a beta of 1.47. The firm’s 50 day moving average price is $24.47 and its 200-day moving average price is $22.92. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14.

Acadia Realty Trust (NYSE:AKR – Get Free Report) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. Acadia Realty Trust’s payout ratio is currently 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

Institutional investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new position in Acadia Realty Trust during the third quarter worth approximately $80,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 1,039 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Acadia Realty Trust during the 2nd quarter worth $186,000. Custom Index Systems LLC purchased a new position in shares of Acadia Realty Trust in the 3rd quarter worth $202,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Acadia Realty Trust in the third quarter valued at $202,000. 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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