Acadia Realty Trust (NYSE:AKR) had its price objective increased by research analysts at Bank of America from $30.00 to $32.00 in a research note issued on Monday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Bank of America’s price objective points to a potential upside of 12.20% from the stock’s previous close.

Several other analysts also recently issued reports on AKR. ValuEngine raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. Zacks Investment Research downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, Citigroup increased their price objective on shares of Acadia Realty Trust from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.33.

Shares of NYSE:AKR opened at $28.52 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.00 and a quick ratio of 1.00. Acadia Realty Trust has a 52-week low of $21.34 and a 52-week high of $30.63. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.34 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.24). Acadia Realty Trust had a net margin of 19.11% and a return on equity of 2.25%. The firm had revenue of $63.60 million during the quarter, compared to analyst estimates of $48.00 million. During the same period last year, the business earned $0.37 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. analysts anticipate that Acadia Realty Trust will post 1.38 EPS for the current fiscal year.

In other news, insider Joseph Napolitano sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $28.51, for a total transaction of $128,295.00. Following the completion of the sale, the insider now owns 4,618 shares of the company’s stock, valued at $131,659.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wendy W. Luscombe sold 2,204 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 40,198 shares of the company’s stock, valued at approximately $1,130,367.76. The disclosure for this sale can be found here. Insiders have sold 9,606 shares of company stock valued at $273,014 in the last three months. Corporate insiders own 2.15% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AKR. Paloma Partners Management Co acquired a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $222,000. Point72 Hong Kong Ltd acquired a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $297,000. Xact Kapitalforvaltning AB grew its position in shares of Acadia Realty Trust by 45.4% during the first quarter. Xact Kapitalforvaltning AB now owns 13,132 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 4,100 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $390,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Acadia Realty Trust during the second quarter worth approximately $472,000.

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 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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