Zacks Investment Research upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

AKR has been the subject of a number of other reports. Citigroup set a $30.00 price target on Acadia Realty Trust and gave the company a hold rating in a report on Monday, May 20th. ValuEngine downgraded Acadia Realty Trust from a buy rating to a hold rating in a report on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Acadia Realty Trust presently has a consensus rating of Hold and a consensus target price of $31.00.

AKR stock opened at $27.70 on Wednesday. The company’s 50 day moving average price is $27.56 and its 200 day moving average price is $28.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.53 and a current ratio of 0.53. Acadia Realty Trust has a fifty-two week low of $23.11 and a fifty-two week high of $29.82. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.47 and a beta of 0.68.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.06. Acadia Realty Trust had a net margin of 13.32% and a return on equity of 1.78%. The firm had revenue of $71.10 million for the quarter, compared to analyst estimates of $57.31 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts forecast that Acadia Realty Trust will post 1.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Friday, September 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is 82.96%.

In related news, EVP Christopher Conlon sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $27.83, for a total value of $556,600.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $278,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John J. Gottfried sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $27.78, for a total value of $833,400.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $833,400. The disclosure for this sale can be found here. Corporate insiders own 2.47% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its holdings in Acadia Realty Trust by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the real estate investment trust’s stock valued at $857,000 after purchasing an additional 400 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of Acadia Realty Trust by 3.3% in the second quarter. Profund Advisors LLC now owns 13,119 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 415 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Acadia Realty Trust by 11.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,444 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 461 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Acadia Realty Trust by 2.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 24,390 shares of the real estate investment trust’s stock valued at $668,000 after acquiring an additional 480 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Acadia Realty Trust by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,585 shares of the real estate investment trust’s stock valued at $861,000 after acquiring an additional 571 shares during the period.

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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