AKR has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an "underweight" rating to a "neutral" rating and set a $18.00 price objective for the company in a research report on Wednesday, June 26th. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Finally, Compass Point upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $23.00 to $27.00 in a research note on Thursday. One equities 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $21.60.
Read Our Latest Analysis on Acadia Realty Trust
NYSE:AKR traded up $0.21 during mid-day trading on Monday, hitting $23.77. 754,310 shares of the company's stock traded hands, compared to its average volume of 989,967. The company has a fifty day moving average of $22.47 and a 200 day moving average of $19.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. Acadia Realty Trust has a twelve month low of $13.24 and a twelve month high of $23.84. The company has a market capitalization of $2.45 billion, a P/E ratio of 297.13, a P/E/G ratio of 6.04 and a beta of 1.47.
Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.30). The company had revenue of $87.25 million during the quarter, compared to analysts' expectations of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. On average, analysts forecast that Acadia Realty Trust will post 1.29 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its stake in Acadia Realty Trust by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust's stock worth $1,614,000 after buying an additional 531 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Acadia Realty Trust by 32.7% in the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 572 shares during the period. Arizona State Retirement System increased its position in Acadia Realty Trust by 2.6% during the second quarter. Arizona State Retirement System now owns 28,831 shares of the real estate investment trust's stock worth $517,000 after purchasing an additional 724 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Acadia Realty Trust by 8.0% during the first quarter. Ameritas Investment Partners Inc. now owns 10,031 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 740 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in Acadia Realty Trust by 5.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 17,619 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 932 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
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.
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