Acadia Realty Trust (NYSE:AKR) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

Separately, Compass Point initiated coverage on shares of Acadia Realty Trust in a report on Thursday, August 15th. They issued a buy rating and a $30.00 price target for the company.

Shares of AKR stock traded up $0.06 on Friday, hitting $25.47. 764,503 shares of the stock traded hands, compared to its average volume of 475,058. The company’s fifty day moving average is $27.25 and its 200 day moving average is $27.82. Acadia Realty Trust has a 1-year low of $23.11 and a 1-year high of $29.82. The company has a market capitalization of $2.26 billion, a PE ratio of 18.87, a PEG ratio of 3.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.53 and a quick ratio of 0.53.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.21). Acadia Realty Trust had a return on equity of 1.82% and a net margin of 13.42%. The business had revenue of $72.19 million during the quarter, compared to analyst estimates of $61.66 million. During the same period in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, equities research analysts expect that Acadia Realty Trust will post 1.42 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.55%. Acadia Realty Trust’s dividend payout ratio is 82.96%.

Large investors have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. bought a new stake in Acadia Realty Trust in the 2nd quarter valued at about $81,150,000. Nuveen Asset Management LLC acquired a new position in Acadia Realty Trust during the 2nd quarter valued at about $26,533,000. BlackRock Inc. increased its stake in Acadia Realty Trust by 3.7% during the 2nd quarter. BlackRock Inc. now owns 14,851,300 shares of the real estate investment trust’s stock valued at $406,481,000 after buying an additional 526,727 shares during the period. Phocas Financial Corp. bought a new stake in shares of Acadia Realty Trust during the 3rd quarter worth about $13,146,000. Finally, Morgan Stanley raised its position in shares of Acadia Realty Trust by 140.9% during the 2nd quarter. Morgan Stanley now owns 547,709 shares of the real estate investment trust’s stock worth $14,991,000 after buying an additional 320,383 shares in the last quarter.

Acadia Realty Trust Company Profile

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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