Acadia Realty Trust (NYSE:AKR) Shares Gap Up to $16.31

Acadia Realty Trust (NYSE:AKR) gapped up before the market opened on Friday . The stock had previously closed at $16.31, but opened at $16.64. Acadia Realty Trust shares last traded at $16.40, with a volume of 218,956 shares traded.

Analyst Upgrades and Downgrades

AKR has been the topic of several recent analyst reports. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $20.00 in a research report on Friday. Jefferies Financial Group raised Acadia Realty Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $15.00 to $20.00 in a research note on Tuesday, January 2nd. Finally, Truist Financial lowered Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.50.

Acadia Realty Trust Trading Up 1.3 %

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.70 billion, a PE ratio of 87.00 and a beta of 1.44. The business has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $15.89.

Acadia Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 378.97%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Acadia Realty Trust by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,627,993 shares of the real estate investment trust’s stock worth $23,362,000 after buying an additional 67,141 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Acadia Realty Trust in the 3rd quarter valued at $781,000. Vanguard Group Inc. increased its holdings in Acadia Realty Trust by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 15,562,072 shares of the real estate investment trust’s stock valued at $223,316,000 after purchasing an additional 118,807 shares in the last quarter. Graham Capital Management L.P. increased its holdings in Acadia Realty Trust by 238.7% in the 3rd quarter. Graham Capital Management L.P. now owns 46,341 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 32,659 shares in the last quarter. Finally, Natixis Advisors L.P. increased its holdings in Acadia Realty Trust by 5.0% in the 3rd quarter. Natixis Advisors L.P. now owns 20,856 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 997 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.