Acadia Realty Trust (NYSE:AKR) Now Covered by Analysts at Compass Point

Compass Point began coverage on shares of Acadia Realty Trust (NYSE:AKR) in a research note released on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $30.00 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on AKR. Zacks Investment Research upgraded Acadia Realty Trust from a sell rating to a hold rating in a report on Wednesday, August 14th. Citigroup set a $30.00 price target on Acadia Realty Trust and gave the company a hold rating in a report on Monday, May 20th. Finally, ValuEngine cut Acadia Realty Trust from a buy rating to a hold rating in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Acadia Realty Trust presently has a consensus rating of Hold and an average target price of $31.00.

NYSE AKR opened at $27.70 on Thursday. The stock has a market capitalization of $2.32 billion, a PE ratio of 20.52, a P/E/G ratio of 3.47 and a beta of 0.68. The business has a 50 day simple moving average of $27.56 and a two-hundred day simple moving average of $28.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.53 and a quick ratio of 0.53. Acadia Realty Trust has a 1-year low of $23.11 and a 1-year high of $29.82.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $71.10 million during the quarter, compared to analysts’ expectations of $57.31 million. Acadia Realty Trust had a return on equity of 1.78% and a net margin of 13.32%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. On average, analysts anticipate that Acadia Realty Trust will post 1.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, September 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is 82.96%.

In other news, EVP Christopher Conlon sold 20,000 shares of Acadia Realty Trust stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $27.83, for a total value of $556,600.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $278,300. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John J. Gottfried sold 30,000 shares of Acadia Realty Trust stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $27.78, for a total value of $833,400.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $833,400. The disclosure for this sale can be found here. 2.47% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its stake in shares of Acadia Realty Trust by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the real estate investment trust’s stock worth $857,000 after acquiring an additional 400 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Acadia Realty Trust by 3.3% during the 2nd quarter. Profund Advisors LLC now owns 13,119 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 415 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Acadia Realty Trust by 11.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,444 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 461 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Acadia Realty Trust by 2.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 24,390 shares of the real estate investment trust’s stock worth $668,000 after acquiring an additional 480 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Acadia Realty Trust by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 31,585 shares of the real estate investment trust’s stock worth $861,000 after acquiring an additional 571 shares during the last quarter.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core 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 urban and street-retail 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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