Acadia Realty Trust (NYSE:AKR) Stock Rating Upgraded by Zacks Research

Acadia Realty Trust (NYSE:AKR) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Acadia Realty Trust from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, March 20th. Truist Financial lowered their target price on Acadia Realty Trust from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Citigroup upped their price target on Acadia Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Acadia Realty Trust has a consensus rating of “Hold” and an average price target of $22.25.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock opened at $19.19 on Monday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 213.19, a PEG ratio of 1.94 and a beta of 1.09. The stock has a fifty day moving average price of $20.47 and a 200 day moving average price of $20.20. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $22.36. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.28). The business had revenue of $104.77 million during the quarter, compared to analyst estimates of $92.19 million. Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Equities research analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Institutional Trading of Acadia Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of AKR. Osaic Holdings Inc. raised its stake in Acadia Realty Trust by 32.8% during the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 547 shares in the last quarter. Danske Bank A S grew its position in shares of Acadia Realty Trust by 600.0% in the 4th quarter. Danske Bank A S now owns 2,100 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,800 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Acadia Realty Trust in the 2nd quarter valued at approximately $47,000. Hantz Financial Services Inc. increased its holdings in shares of Acadia Realty Trust by 90.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,622 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 1,244 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Acadia Realty Trust by 342.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 2,309 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

Acadia Realty Trust Company Profile

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.