Acadia Realty Trust (NYSE:AKR) Hits New 1-Year High – Here’s Why

Shares of Acadia Realty Trust (NYSE:AKR) reached a new 52-week high on Monday . The company traded as high as $26.50 and last traded at $26.50, with a volume of 120 shares traded. The stock had previously closed at $25.51.

Analysts Set New Price Targets

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

Acadia Realty Trust Stock Performance

The stock has a market cap of $2.98 billion, a PE ratio of 277.17, a price-to-earnings-growth ratio of 6.45 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $24.59 and a 200 day moving average price of $21.74.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 3.05%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in AKR. USA Financial Formulas bought a new position in Acadia Realty Trust in the third quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 1,039 shares in the last quarter. SG Americas Securities LLC bought a new position in Acadia Realty Trust in the second quarter worth about $103,000. Custom Index Systems LLC bought a new position in Acadia Realty Trust in the third quarter worth about $202,000. Finally, Crossmark Global Holdings Inc. bought a new position in Acadia Realty Trust in the third quarter worth about $202,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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.