Acadia Realty Trust (NYSE:AKR) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Acadia Realty Trust (NYSE:AKR) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.16 and traded as high as $20.78. Acadia Realty Trust shares last traded at $20.76, with a volume of 1,139,557 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AKR. Zacks Research upgraded Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Citigroup lifted their target price on Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on Acadia Realty Trust from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, March 20th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Acadia Realty Trust has an average rating of “Hold” and an average target price of $22.25.

Acadia Realty Trust Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $2.77 billion, a P/E ratio of 234.57, a P/E/G ratio of 2.08 and a beta of 1.11. The firm’s fifty day moving average is $20.30 and its 200 day moving average is $20.17.

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

Acadia Realty Trust Dividend Announcement

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

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of AKR. Hsbc Holdings PLC lifted its position in shares of Acadia Realty Trust by 22.0% during the fourth quarter. Hsbc Holdings PLC now owns 217,339 shares of the real estate investment trust’s stock worth $4,464,000 after purchasing an additional 39,212 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Acadia Realty Trust in the fourth quarter worth about $211,000. First Citizens Bank & Trust Co. purchased a new position in Acadia Realty Trust in the 4th quarter worth about $261,000. Virtus Investment Advisers LLC purchased a new position in Acadia Realty Trust in the 4th quarter worth about $162,000. Finally, Wellington Management Group LLP bought a new stake in Acadia Realty Trust during the 4th quarter valued at about $42,330,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.