Shares of Acadia Realty Trust (NYSE:AKR) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $31.33.
Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Acadia Realty Trust from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday. ValuEngine raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Citigroup boosted their price objective on shares of Acadia Realty Trust from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, August 13th.
NYSE AKR opened at $28.38 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Acadia Realty Trust has a fifty-two week low of $21.34 and a fifty-two week high of $30.63. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 2.33 and a beta of 0.35.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.24). Acadia Realty Trust had a return on equity of 2.25% and a net margin of 19.11%. The business had revenue of $63.60 million during the quarter, compared to the consensus estimate of $48.00 million. During the same period in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. sell-side analysts predict that Acadia Realty Trust will post 1.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 3.81%. Acadia Realty Trust’s dividend payout ratio is 71.52%.
In related news, insider Richard Hartmann sold 2,203 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $28.51, for a total value of $62,807.53. Following the sale, the insider now owns 444 shares of the company’s stock, valued at $12,658.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wendy W. Luscombe sold 2,204 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $28.12, for a total transaction of $61,976.48. Following the completion of the sale, the director now directly owns 40,198 shares in the company, valued at approximately $1,130,367.76. The disclosure for this sale can be found here. In the last three months, insiders sold 9,606 shares of company stock worth $273,014. 2.15% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC bought a new stake in Acadia Realty Trust during the first quarter valued at $2,779,000. Legal & General Group Plc boosted its position in Acadia Realty Trust by 13.4% during the first quarter. Legal & General Group Plc now owns 986,240 shares of the real estate investment trust’s stock valued at $24,274,000 after acquiring an additional 116,781 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Acadia Realty Trust by 2.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,074,338 shares of the real estate investment trust’s stock valued at $29,405,000 after acquiring an additional 28,376 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Acadia Realty Trust during the second quarter valued at $297,000. Finally, Barclays PLC boosted its position in Acadia Realty Trust by 108.3% during the first quarter. Barclays PLC now owns 165,027 shares of the real estate investment trust’s stock valued at $4,059,000 after acquiring an additional 85,819 shares during the last quarter.
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 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 urban and street-retail 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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