Acadia Realty Trust (NYSE:AKR) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Acadia Realty Trust (NYSE:AKR)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.75 and traded as high as $23.60. Acadia Realty Trust shares last traded at $23.07, with a volume of 1,137,283 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial raised their price target 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 Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.00.

Acadia Realty Trust Trading Down 1.0 %

The firm has a market cap of $2.74 billion, a PE ratio of 254.22, a price-to-earnings-growth ratio of 6.41 and a beta of 1.47. 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 company has a 50-day simple moving average of $24.73 and a 200 day simple moving average of $22.75.

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

Acadia Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is presently 844.44%.

Institutional Trading of Acadia Realty Trust

Several large investors have recently made changes to their positions in AKR. Natixis Advisors LLC boosted its stake in Acadia Realty Trust by 22.7% during the 2nd quarter. Natixis Advisors LLC now owns 27,321 shares of the real estate investment trust’s stock worth $490,000 after purchasing an additional 5,048 shares during the last quarter. Rhumbline Advisers grew its position in Acadia Realty Trust by 2.6% in the second quarter. Rhumbline Advisers now owns 345,377 shares of the real estate investment trust’s stock worth $6,189,000 after acquiring an additional 8,596 shares during the period. Victory Capital Management Inc. raised its holdings in Acadia Realty Trust by 14.4% in the 2nd quarter. Victory Capital Management Inc. now owns 151,036 shares of the real estate investment trust’s stock valued at $2,707,000 after buying an additional 19,023 shares during the period. Arizona State Retirement System boosted its position in shares of Acadia Realty Trust by 2.6% during the 2nd 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 period. Finally, Texas Permanent School Fund Corp increased its holdings in Acadia Realty Trust by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 90,041 shares of the real estate investment trust’s stock valued at $1,614,000 after purchasing an additional 531 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

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 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.