Acadia Realty Trust (NYSE:AKR) Price Target Cut to $23.00 by Analysts at Truist Financial

Acadia Realty Trust (NYSE:AKR) had its price objective decreased by stock analysts at Truist Financial from $25.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 9.76% from the stock’s current price.

Separately, StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Acadia Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $20.96 on Tuesday. Acadia Realty Trust has a 12 month low of $16.14 and a 12 month high of $26.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 116.42, a PEG ratio of 6.09 and a beta of 1.49. The business’s 50-day moving average price is $22.61 and its 200-day moving average price is $23.57.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Equities research analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Insider Buying and Selling at Acadia Realty Trust

In related news, EVP Jason Blacksberg sold 30,000 shares of Acadia Realty Trust stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its stake in shares of Acadia Realty Trust by 3.6% during the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock worth $2,358,000 after acquiring an additional 3,453 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Acadia Realty Trust in the fourth quarter valued at about $297,000. KBC Group NV raised its stake in shares of Acadia Realty Trust by 44.1% in the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,448 shares during the last quarter. Barclays PLC boosted its position in Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after buying an additional 81,853 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Acadia Realty Trust by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock worth $62,033,000 after buying an additional 63,672 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund 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.