Acadia Realty Trust (NYSE:AKR) Reaches New 1-Year High at $17.90

Shares of Acadia Realty Trust (NYSE:AKR) reached a new 52-week high on Tuesday . The company traded as high as $17.90 and last traded at $17.09, with a volume of 209793 shares changing hands. The stock had previously closed at $17.60.

Analysts Set New Price Targets

Several brokerages recently issued reports on AKR. Truist Financial lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Tuesday, January 16th. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.50.

Acadia Realty Trust Price Performance

The stock has a 50 day simple moving average of $16.75 and a 200-day simple moving average of $16.25. The firm has a market cap of $1.76 billion, a PE ratio of 213.56, a price-to-earnings-growth ratio of 11.54 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 0.77.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.27). Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The business had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors have recently bought and sold shares of AKR. Federated Hermes Inc. boosted its holdings in shares of Acadia Realty Trust by 189.9% during the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,152 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Acadia Realty Trust during the first quarter valued at approximately $58,000. GAMMA Investing LLC purchased a new position in Acadia Realty Trust during the 4th quarter valued at approximately $61,000. Vanguard Personalized Indexing Management LLC bought a new stake in Acadia Realty Trust in the 4th quarter worth approximately $174,000. Finally, Jump Financial LLC purchased a new stake in shares of Acadia Realty Trust during the 3rd quarter worth approximately $185,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

About Acadia Realty Trust

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.