Acadia Realty Trust (NYSE:AKR) Price Target Raised to $22.00 at JPMorgan Chase & Co.

Acadia Realty Trust (NYSE:AKR) had its price target boosted by JPMorgan Chase & Co. from $21.00 to $22.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Citigroup lifted their price objective on Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Truist Financial dropped their price objective on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Acadia Realty Trust in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.25.

Acadia Realty Trust Stock Down 4.5%

Shares of NYSE:AKR opened at $19.35 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 214.97, a P/E/G ratio of 2.03 and a beta of 1.09. The company has a 50 day moving average of $20.54 and a 200-day moving average of $20.21. Acadia Realty Trust has a one year low of $16.98 and a one year high of $22.36.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.28). Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The business had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust’s payout ratio is currently 888.89%.

Hedge Funds Weigh In On Acadia Realty Trust

A number of large investors have recently added to or reduced their stakes in AKR. Vanguard Group Inc. raised its stake in shares of Acadia Realty Trust by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,939,618 shares of the real estate investment trust’s stock valued at $401,783,000 after purchasing an additional 114,473 shares during the period. State Street Corp boosted its position 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 buying an additional 632,722 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Acadia Realty Trust by 74.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,572,852 shares of the real estate investment trust’s stock worth $114,466,000 after buying an additional 2,370,553 shares in the last quarter. Engineers Gate Manager LP raised its position in Acadia Realty Trust by 23.6% in the 4th quarter. Engineers Gate Manager LP now owns 3,755,928 shares of the real estate investment trust’s stock valued at $77,147,000 after buying an additional 717,826 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Acadia Realty Trust by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 3,392,747 shares of the real estate investment trust’s stock valued at $69,698,000 after buying an additional 10,648 shares during the last quarter. 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.