Acadia Realty Trust (NYSE:AKR) Short Interest Update

Acadia Realty Trust (NYSE:AKR) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,500,000 shares, a drop of 5.3% from the September 15th total of 2,640,000 shares. Based on an average daily trading volume, of 872,600 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AKR shares. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a research report on Wednesday, June 26th. Truist Financial boosted their target price 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. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $23.00 to $27.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.60.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $24.65 on Thursday. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $24.73. The stock’s 50-day moving average is $22.60 and its two-hundred day moving average is $19.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $2.54 billion, a P/E ratio of 308.13, a PEG ratio of 6.04 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The firm had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. Analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 950.00%.

Institutional Investors Weigh In On Acadia Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Acadia Realty Trust by 32.7% during the second quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 572 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Acadia Realty Trust during the 1st quarter valued at about $58,000. USA Financial Formulas bought a new position in shares of Acadia Realty Trust in the 3rd quarter valued at approximately $80,000. SG Americas Securities LLC acquired a new stake in Acadia Realty Trust in the 2nd quarter worth approximately $103,000. Finally, Ameritas Investment Partners Inc. boosted its position 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. Institutional investors and hedge funds own 97.65% of the company’s stock.

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.