Acadia Realty Trust (NYSE:AKR) Shares Gap Up to $15.33

Acadia Realty Trust (NYSE:AKRGet Rating)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $15.33, but opened at $15.65. Acadia Realty Trust shares last traded at $15.26, with a volume of 6,175 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on AKR. KeyCorp lowered their target price on Acadia Realty Trust from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Truist Financial lowered their price target on Acadia Realty Trust from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Citigroup raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Acadia Realty Trust from $23.00 to $19.00 in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Acadia Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $19.83.

Acadia Realty Trust Stock Down 2.1 %

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $16.47 and a 200-day simple moving average of $18.45. The stock has a market cap of $1.44 billion, a P/E ratio of 44.50, a PEG ratio of 1.79 and a beta of 1.36.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.72 dividend on an annualized basis and a yield of 4.76%. Acadia Realty Trust’s payout ratio is presently 211.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Acadia Realty Trust by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,363,416 shares of the real estate investment trust’s stock valued at $311,255,000 after purchasing an additional 303,721 shares during the last quarter. Cohen & Steers Inc. increased its position in Acadia Realty Trust by 69.1% in the 1st quarter. Cohen & Steers Inc. now owns 11,640,773 shares of the real estate investment trust’s stock worth $252,256,000 after buying an additional 4,758,579 shares during the period. State Street Corp increased its position in Acadia Realty Trust by 5.7% in the 2nd quarter. State Street Corp now owns 5,842,589 shares of the real estate investment trust’s stock worth $92,263,000 after buying an additional 316,836 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Acadia Realty Trust by 13.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,635,608 shares of the real estate investment trust’s stock valued at $88,028,000 after acquiring an additional 673,006 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in shares of Acadia Realty Trust by 2.4% in the first quarter. Centersquare Investment Management LLC now owns 5,200,854 shares of the real estate investment trust’s stock worth $112,702,000 after acquiring an additional 123,389 shares during the last quarter.

About Acadia Realty Trust

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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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