Shares of Acadia Realty Trust (NYSE:AKR) have earned a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $33.50.

Several brokerages have recently issued reports on AKR. Zacks Investment Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub raised Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Boenning Scattergood set a $35.00 price target on Acadia Realty Trust and gave the company a “buy” rating in a research report on Thursday, July 27th. KeyCorp lowered their price target on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 28th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $30.00 price target (down from $35.00) on shares of Acadia Realty Trust in a research report on Tuesday, June 6th.

Acadia Realty Trust (NYSE:AKR) opened at 30.14 on Friday. The firm has a market cap of $2.52 billion, a PE ratio of 46.66 and a beta of 0.59. The company has a 50 day moving average price of $29.23 and a 200 day moving average price of $29.11. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $37.54.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.29. The company had revenue of $59.50 million for the quarter, compared to the consensus estimate of $53.72 million. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The firm’s revenue was up 35.2% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. On average, equities research analysts forecast that Acadia Realty Trust will post $0.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, September 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 162.50%.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY grew its position in Acadia Realty Trust by 0.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 59,930 shares of the real estate investment trust’s stock worth $1,801,000 after buying an additional 155 shares in the last quarter. Nationwide Fund Advisors grew its position in Acadia Realty Trust by 0.4% during the second quarter. Nationwide Fund Advisors now owns 52,380 shares of the real estate investment trust’s stock worth $1,456,000 after buying an additional 214 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Acadia Realty Trust by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 18,470 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 290 shares in the last quarter. GAM Holding AG grew its position in Acadia Realty Trust by 5.5% during the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 356 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Acadia Realty Trust by 1.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,201 shares of the real estate investment trust’s stock worth $637,000 after buying an additional 376 shares in the last quarter.

About Acadia Realty Trust

Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.

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