Short Interest in Acadia Realty Trust (NYSE:AKR) Rises By 23.2%

Acadia Realty Trust (NYSE:AKR) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 10,180,000 shares, a growth of 23.2% from the November 30th total of 8,260,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 7.6 days.

Acadia Realty Trust Stock Up 0.9 %

Acadia Realty Trust stock traded up $0.22 during mid-day trading on Tuesday, hitting $24.02. The company had a trading volume of 144,497 shares, compared to its average volume of 1,073,801. Acadia Realty Trust has a 12 month low of $16.09 and a 12 month high of $26.29. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $24.83 and its two-hundred day moving average price is $22.48. The company has a market capitalization of $2.87 billion, a PE ratio of 266.89, a price-to-earnings-growth ratio of 6.41 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). The firm had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.16%. Acadia Realty Trust’s payout ratio is currently 844.44%.

Analyst Ratings Changes

AKR has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Acadia Realty Trust has a consensus rating of “Hold” and a consensus price target of $22.40.

Hedge Funds Weigh In On Acadia Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKR. Geode Capital Management LLC raised its stake in shares of Acadia Realty Trust by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,641,495 shares of the real estate investment trust’s stock worth $62,033,000 after purchasing an additional 63,672 shares during the last quarter. Vestcor Inc increased its holdings in Acadia Realty Trust by 2.7% in the 3rd quarter. Vestcor Inc now owns 92,672 shares of the real estate investment trust’s stock worth $2,176,000 after buying an additional 2,407 shares in the last quarter. Barclays PLC raised its position in Acadia Realty Trust by 11.8% in the 3rd quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock worth $18,240,000 after buying an additional 81,853 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Acadia Realty Trust by 2.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 151,650 shares of the real estate investment trust’s stock valued at $3,561,000 after acquiring an additional 4,086 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Acadia Realty Trust by 3.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 136,456 shares of the real estate investment trust’s stock valued at $3,204,000 after acquiring an additional 5,000 shares during the last quarter. 97.65% of the stock is owned by 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.