Acadia Realty Trust (NYSE:AKR) Upgraded at Truist Financial

Acadia Realty Trust (NYSE:AKR) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a $23.00 price target on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 22.96% from the company’s previous close.

Acadia Realty Trust Trading Up 0.7 %

Shares of NYSE:AKR opened at $18.71 on Thursday. Acadia Realty Trust has a 12-month low of $16.14 and a 12-month high of $26.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.24 billion, a P/E ratio of 103.92, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24. The firm has a fifty day moving average of $21.72 and a two-hundred day moving average of $23.26.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, equities analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jason Blacksberg sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Acadia Realty Trust

Several large investors have recently made changes to their positions in AKR. Smartleaf Asset Management LLC raised its holdings in Acadia Realty Trust by 91.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 717 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Acadia Realty Trust during the 4th quarter worth approximately $46,000. Sterling Capital Management LLC raised its stake in shares of Acadia Realty Trust by 960.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 3,344 shares during the last quarter. USA Financial Formulas lifted its holdings in Acadia Realty Trust by 14.4% in the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 489 shares during the period. Finally, KBC Group NV lifted its stake in shares of Acadia Realty Trust by 44.1% in the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 1,448 shares during the period. 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.