Acadia Realty Trust (NYSE:AKR) Stock Moved Down to “Strong Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a strong sell rating in a research report report published on Sunday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. KeyCorp reaffirmed an “overweight” rating on shares of Acadia Realty Trust in a research note on Wednesday, September 23rd. Truist Financial assumed coverage on Acadia Realty Trust in a research report on Thursday, October 1st. They set a “buy” rating and a $22.00 price objective for the company. Citigroup raised their price target on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings cut Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.80.

Acadia Realty Trust Stock Performance

AKR stock opened at $19.77 on Friday. Acadia Realty Trust has a 1 year low of $17.96 and a 1 year high of $23.03. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 70.62, a PEG ratio of 2.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s fifty day moving average is $19.18 and its two-hundred day moving average is $20.58.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.34). Acadia Realty Trust had a net margin of 10.23% and a return on equity of 1.54%. The business had revenue of $94.98 million during the quarter, compared to analyst estimates of $94.38 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, research analysts predict that Acadia Realty Trust will post 1.25 EPS for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, December 31st. Acadia Realty Trust’s payout ratio is 285.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP boosted its holdings in shares of Acadia Realty Trust by 1.0% in the 2nd quarter. Corient Private Wealth LP now owns 73,910 shares of the real estate investment trust’s stock valued at $1,545,000 after buying an additional 722 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in Acadia Realty Trust by 145.1% during the third quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 969 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Acadia Realty Trust by 0.5% during the third quarter. Russell Investments Group Ltd. now owns 255,679 shares of the real estate investment trust’s stock worth $4,791,000 after buying an additional 1,182 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in Acadia Realty Trust by 49.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,032 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 1,326 shares during the last quarter. Finally, Nykredit A S bought a new stake in Acadia Realty Trust during the second quarter worth $47,000. Institutional investors own 97.65% of the company’s stock.

Acadia Realty Trust Company Profile

Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.