Acadia Realty Trust (NYSE:AKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

A number of other equities analysts also recently weighed in on the stock. Citigroup Inc. boosted their price target on shares of Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a report on Friday, August 12th. Boenning Scattergood restated an “outperform” rating and issued a $38.00 price objective on shares of Acadia Realty Trust in a research note on Tuesday, June 28th. BTIG Research started coverage on Acadia Realty Trust in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets restated a “buy” rating and issued a $40.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $39.70.

Analyst Recommendations for Acadia Realty Trust (NYSE:AKR)

Shares of Acadia Realty Trust (NYSE:AKR) opened at 34.74 on Friday. The stock has a 50 day moving average of $35.88 and a 200-day moving average of $35.32. Acadia Realty Trust has a 1-year low of $30.25 and a 1-year high of $38.01. The firm has a market capitalization of $2.63 billion, a P/E ratio of 35.93 and a beta of 0.67.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. The company earned $51.30 million during the quarter, compared to analysts’ expectations of $40.51 million. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. Acadia Realty Trust’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts expect that Acadia Realty Trust will post $1.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Wednesday, September 28th. Acadia Realty Trust’s dividend payout ratio is presently 103.09%.

In other news, insider Joel L. Braun sold 22,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $37.60, for a total transaction of $827,200.00. Following the sale, the insider now directly owns 24,109 shares in the company, valued at $906,498.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William T. Spitz sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $37.25, for a total value of $372,500.00. The disclosure for this sale can be found here. Insiders own 2.22% of the company’s stock.

Several large investors have recently made changes to their positions in AKR. Vanguard Group Inc. boosted its stake in shares of Acadia Realty Trust by 4.0% in the second quarter. Vanguard Group Inc. now owns 11,091,594 shares of the real estate investment trust’s stock valued at $393,973,000 after buying an additional 425,052 shares in the last quarter. FMR LLC boosted its stake in shares of Acadia Realty Trust by 5.6% in the second quarter. FMR LLC now owns 10,024,944 shares of the real estate investment trust’s stock valued at $356,086,000 after buying an additional 529,724 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Acadia Realty Trust by 5.4% in the second quarter. BlackRock Fund Advisors now owns 4,510,191 shares of the real estate investment trust’s stock valued at $160,202,000 after buying an additional 230,075 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Acadia Realty Trust by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,698,001 shares of the real estate investment trust’s stock valued at $95,833,000 after buying an additional 56,869 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Acadia Realty Trust by 3.3% in the second quarter. State Street Corp now owns 2,373,226 shares of the real estate investment trust’s stock valued at $84,290,000 after buying an additional 76,918 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Acadia Realty Trust Company Profile

Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.

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