Acadia Realty Trust (NYSE:AKR) Short Interest Up 10.1% in April

Acadia Realty Trust (NYSE:AKR) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,370,000 shares, an increase of 10.1% from the March 31st total of 3,060,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is currently 2.9 days.

Acadia Realty Trust Price Performance

Shares of NYSE AKR opened at $17.61 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $1.81 billion, a PE ratio of 92.66, a P/E/G ratio of 11.56 and a beta of 1.44. The business has a 50-day simple moving average of $16.73 and a two-hundred day simple moving average of $16.23. Acadia Realty Trust has a fifty-two week low of $12.37 and a fifty-two week high of $17.73.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is 378.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AKR shares. Jefferies Financial Group upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating and raised their price target for the company from $15.00 to $20.00 in a research note on Tuesday, January 2nd. Truist Financial downgraded Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research report on Tuesday, January 16th. Finally, Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Acadia Realty Trust currently has a consensus rating of “Hold” and an average price target of $18.50.

Institutional Investors Weigh In On Acadia Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of AKR. Federated Hermes Inc. lifted its holdings in shares of Acadia Realty Trust by 189.9% during the third quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 2,152 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Acadia Realty Trust during the first quarter worth about $58,000. GAMMA Investing LLC acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth about $61,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Acadia Realty Trust during the fourth quarter worth about $174,000. Finally, Jump Financial LLC acquired a new stake in shares of Acadia Realty Trust during the third quarter worth about $185,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

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 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.