Analysts Set Acadia Realty Trust (NYSE:AKR) Target Price at $22.33

Shares of Acadia Realty Trust (NYSE:AKR) have earned an average rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.3333.

Several research firms recently weighed in on AKR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research note on Wednesday, January 21st. Truist Financial cut their price objective on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Wall Street Zen lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Citigroup lifted their price objective on Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th.

Institutional Trading of Acadia Realty Trust

A number of large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in shares of Acadia Realty Trust by 189.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 902 shares during the last quarter. Osaic Holdings Inc. increased its stake in Acadia Realty Trust by 32.8% during the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 547 shares during the last quarter. Danske Bank A S raised its position in Acadia Realty Trust by 600.0% during the fourth quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 1,800 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Acadia Realty Trust in the 2nd quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Acadia Realty Trust by 342.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 2,309 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $20.86 on Monday. The stock has a 50-day moving average price of $20.62 and a 200 day moving average price of $20.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Acadia Realty Trust has a 12-month low of $16.98 and a 12-month high of $22.84. The stock has a market capitalization of $2.73 billion, a P/E ratio of 231.80, a P/E/G ratio of 2.09 and a beta of 1.09.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.28). The business had revenue of $104.77 million during the quarter, compared to the consensus estimate of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities research analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. Acadia Realty Trust’s dividend payout ratio is presently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.