Acadia Realty Trust (NYSE:AKR) has earned a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.75.
A number of research analysts have recently issued reports on AKR shares. Zacks Investment Research downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, January 21st. Smith Barney Citigroup raised their price target on shares of Acadia Realty Trust from $12.00 to $15.00 in a research report on Tuesday, December 15th. Truist raised their price target on shares of Acadia Realty Trust from $12.00 to $15.00 in a research report on Thursday, December 31st. Bank of America downgraded shares of Acadia Realty Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 19th. Finally, TheStreet downgraded shares of Acadia Realty Trust from a “c-” rating to a “d” rating in a research report on Wednesday, November 4th.
AKR stock traded up $0.48 during mid-day trading on Tuesday, hitting $19.18. 55,162 shares of the company were exchanged, compared to its average volume of 743,692. The company has a market capitalization of $1.65 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 12.33 and a beta of 1.38. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.87. Acadia Realty Trust has a twelve month low of $9.10 and a twelve month high of $25.32. The firm has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $13.15.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $0.60 annualized dividend and a yield of 3.13%.
In related news, Director Wendy W. Luscombe sold 3,500 shares of Acadia Realty Trust stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $15.46, for a total value of $54,110.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.
A number of large investors have recently modified their holdings of AKR. BlackRock Inc. lifted its position in Acadia Realty Trust by 10.7% in the 4th quarter. BlackRock Inc. now owns 17,163,201 shares of the real estate investment trust’s stock valued at $243,545,000 after purchasing an additional 1,652,452 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Acadia Realty Trust by 11.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,917,649 shares of the real estate investment trust’s stock valued at $98,161,000 after buying an additional 709,035 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Acadia Realty Trust during the 3rd quarter valued at about $4,120,000. State of New Jersey Common Pension Fund D increased its stake in Acadia Realty Trust by 81.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 491,196 shares of the real estate investment trust’s stock valued at $6,970,000 after buying an additional 220,946 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Acadia Realty Trust by 67.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 522,745 shares of the real estate investment trust’s stock valued at $5,489,000 after buying an additional 211,076 shares during the period. Hedge funds and other institutional investors own 99.65% of the company’s stock.
Acadia Realty Trust Company Profile
Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Â- Core Portfolio and Fund Â- 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 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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