Truist Financial Cuts Acadia Realty Trust (NYSE:AKR) Price Target to $23.00

Acadia Realty Trust (NYSE:AKR) had its price target decreased by Truist Financial from $25.00 to $23.00 in a report issued on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Separately, StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Acadia Realty Trust has a consensus rating of “Hold” and a consensus target price of $22.00.

Acadia Realty Trust Trading Down 8.0 %

AKR opened at $19.49 on Tuesday. The business’s 50-day simple moving average is $22.49 and its 200-day simple moving average is $23.51. The company has a market cap of $2.33 billion, a P/E ratio of 108.25, a PEG ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a one year low of $16.14 and a one year high of $26.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. As a group, equities research analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 4.11%. Acadia Realty Trust’s payout ratio is currently 444.44%.

Insider Transactions at Acadia Realty Trust

In other news, EVP Jason Blacksberg sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Acadia Realty Trust

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in Acadia Realty Trust by 3.6% during the third quarter. Jane Street Group LLC now owns 100,409 shares of the real estate investment trust’s stock worth $2,358,000 after acquiring an additional 3,453 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Acadia Realty Trust during the 4th quarter worth $297,000. KBC Group NV increased its holdings in shares of Acadia Realty Trust by 44.1% in the 4th quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 1,448 shares in the last quarter. Barclays PLC lifted its stake in shares of Acadia Realty Trust by 11.8% in the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust’s stock valued at $18,240,000 after purchasing an additional 81,853 shares during the period. Finally, Geode Capital Management LLC grew its position in Acadia Realty Trust by 2.5% during 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 buying an additional 63,672 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.

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.