Acadia Realty Trust (AKR) Sees Unusually-High Trading Volume
Shares of Acadia Realty Trust (NYSE:AKR) saw unusually-high trading volume on Friday . Approximately 2,740,727 shares changed hands during mid-day trading, an increase of 420% from the previous session’s volume of 527,424 shares.The stock last traded at $27.84 and had previously closed at $27.66.
AKR has been the topic of several research reports. KeyCorp cut shares of Acadia Realty Trust from an “overweight” rating to a “hold” rating in a research report on Monday, November 20th. Boenning Scattergood set a $35.00 price objective on shares of Acadia Realty Trust and gave the company a “buy” rating in a research report on Wednesday, December 6th. Finally, Zacks Investment Research cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Acadia Realty Trust has a consensus rating of “Hold” and an average target price of $33.50.
The company has a debt-to-equity ratio of 0.48, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $2,327.86, a PE ratio of 18.18, a P/E/G ratio of 1.89 and a beta of 0.61.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Acadia Realty Trust had a net margin of 25.34% and a return on equity of 2.77%. The firm had revenue of $51.70 million for the quarter, compared to analysts’ expectations of $55.94 million. During the same period in the previous year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. equities research analysts expect that Acadia Realty Trust will post 1.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, December 28th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.88%. Acadia Realty Trust’s payout ratio is 146.48%.
Large investors have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its position in Acadia Realty Trust by 135.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 3,116 shares in the last quarter. Royal Bank of Canada lifted its position in Acadia Realty Trust by 72.2% during the 2nd quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 2,775 shares in the last quarter. GAM Holding AG lifted its position in Acadia Realty Trust by 5.5% during the 2nd quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 356 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Acadia Realty Trust by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,376 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 472 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Acadia Realty Trust by 14.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,741 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 1,000 shares in the last quarter.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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