Acadia Realty Trust (NYSE:AKR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $39.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target would indicate a potential upside of 11.43% from the company’s current price.

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. “

Other research analysts have also issued research reports about the company. BMO Capital Markets reissued a “buy” rating and issued a $40.00 target price on shares of Acadia Realty Trust in a report on Wednesday, July 27th. Boenning Scattergood reissued an “outperform” rating and issued a $38.00 target price on shares of Acadia Realty Trust in a report on Tuesday, June 28th. BTIG Research began coverage on Acadia Realty Trust in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, Citigroup Inc. boosted their target price on Acadia Realty Trust from $40.50 to $41.50 and gave the company a “buy” rating in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Acadia Realty Trust presently has an average rating of “Buy” and a consensus price target of $39.70.

Analyst Recommendations for Acadia Realty Trust (NYSE:AKR)

Acadia Realty Trust (NYSE:AKR) opened at 35.00 on Monday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 36.19 and a beta of 0.67. The firm has a 50-day moving average price of $35.83 and a 200-day moving average price of $35.31. Acadia Realty Trust has a one year low of $30.25 and a one year high of $38.01.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share (EPS) 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 analyst estimates of $40.51 million. Acadia Realty Trust had a net margin of 32.18% and a return on equity of 4.32%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. On average, equities analysts predict that Acadia Realty Trust will post $1.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, September 28th. Acadia Realty Trust’s dividend payout ratio is currently 103.09%.

In related news, Director Lee S. Wielansky sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $37.03, for a total value of $444,360.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William T. Spitz sold 10,000 shares of the firm’s stock in a transaction that occurred on 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. 2.22% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in 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. Vanguard Group Inc. boosted its position 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 during the period. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Acadia Realty Trust during the second quarter valued at about $13,320,000. Nuveen Asset Management LLC boosted its position in shares of Acadia Realty Trust by 28.3% in the second quarter. Nuveen Asset Management LLC now owns 1,265,756 shares of the real estate investment trust’s stock valued at $44,960,000 after buying an additional 278,812 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Acadia Realty Trust during the second quarter valued at about $8,469,000. 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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