Acadia Realty Trust (NYSE:AKR) Stock Gets Downgrade from Wall Street Zen

Acadia Realty Trust (NYSE:AKR) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other equities analysts have also commented on AKR. Citigroup increased their target price on Acadia Realty Trust from $24.00 to $26.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings downgraded Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. Truist Financial assumed coverage on Acadia Realty Trust in a report on Thursday, October 1st. They set a “buy” rating and a $22.00 price target for the company. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.40.

Acadia Realty Trust Stock Up 0.9%

Shares of NYSE:AKR opened at $19.98 on Friday. The firm’s 50 day moving average price is $19.16 and its 200 day moving average price is $20.58. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 71.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. Acadia Realty Trust has a fifty-two week low of $17.96 and a fifty-two week high of $23.03. The company has a quick ratio of 1.13, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.34). Acadia Realty Trust had a return on equity of 1.54% and a net margin of 10.23%. The firm had revenue of $94.98 million during the quarter, compared to analysts’ expectations of $94.38 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts predict that Acadia Realty Trust will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of Acadia Realty Trust

Institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its holdings in shares of Acadia Realty Trust by 23.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 12,290 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 2,324 shares in the last quarter. AlTi Global Inc. acquired a new stake in Acadia Realty Trust during the 3rd quarter worth $56,000. Russell Investments Group Ltd. raised its stake in Acadia Realty Trust by 0.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 255,679 shares of the real estate investment trust’s stock worth $4,791,000 after acquiring an additional 1,182 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in Acadia Realty Trust by 56.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 30,465 shares of the real estate investment trust’s stock worth $571,000 after acquiring an additional 10,931 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its position in Acadia Realty Trust by 145.1% in the third quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 969 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

Acadia Realty Trust is an equity real estate investment trust that owns, operates and invests in retail properties. Its portfolio includes shopping centers and urban street-retail properties, with tenants spanning a range of retail and service businesses.

The company focuses on high-barrier-to-entry markets in the United States, including major metropolitan areas. It combines a portfolio of directly owned properties with investment funds through which it partners on additional real estate investments.

Acadia Realty Trust is headquartered in Rye, New York, and is led by President and Chief Executive Officer Kenneth F.