Acadia Realty Trust (NYSE:AKR) Issues Quarterly Earnings Results

Acadia Realty Trust (NYSE:AKR) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.29), FiscalAI reports. The company had revenue of $104.77 million for the quarter, compared to analyst estimates of $92.19 million. Acadia Realty Trust had a return on equity of 0.63% and a net margin of 4.21%.The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share.

Acadia Realty Trust Stock Up 2.2%

Shares of NYSE:AKR opened at $21.46 on Wednesday. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 178.85, a price-to-earnings-growth ratio of 3.63 and a beta of 1.14. The company has a 50 day moving average of $20.46 and a two-hundred day moving average of $19.96. Acadia Realty Trust has a 52-week low of $16.98 and a 52-week high of $24.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AKR shares. Truist Financial cut their price target on shares of Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Acadia Realty Trust has an average rating of “Hold” and an average target price of $22.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AKR. State Street Corp raised its holdings in shares of Acadia Realty Trust by 9.3% during the second quarter. State Street Corp now owns 7,450,026 shares of the real estate investment trust’s stock worth $139,802,000 after purchasing an additional 632,722 shares during the period. Alyeska Investment Group L.P. raised its stake in Acadia Realty Trust by 55.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,909,671 shares of the real estate investment trust’s stock worth $58,630,000 after acquiring an additional 1,042,228 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Acadia Realty Trust by 19.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,648,973 shares of the real estate investment trust’s stock worth $54,410,000 after acquiring an additional 424,644 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Acadia Realty Trust by 34.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,424,302 shares of the real estate investment trust’s stock valued at $26,449,000 after acquiring an additional 366,113 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Acadia Realty Trust by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust’s stock valued at $17,145,000 after purchasing an additional 82,974 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia’s portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.