KeyCorp Raises Acadia Realty Trust (NYSE:AKR) Price Target to $25.00

Acadia Realty Trust (NYSE:AKR) had its price objective upped by KeyCorp from $20.00 to $25.00 in a report issued on Tuesday, The Fly reports. They currently have an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Acadia Realty Trust’s Q2 2021 earnings at $0.25 EPS, Q3 2021 earnings at $0.29 EPS, Q4 2021 earnings at $0.29 EPS, FY2021 earnings at $1.09 EPS, Q1 2022 earnings at $0.28 EPS, Q2 2022 earnings at $0.29 EPS, Q3 2022 earnings at $0.31 EPS and Q4 2022 earnings at $0.31 EPS.

A number of other research firms have also recently issued reports on AKR. Zacks Investment Research upgraded shares of Acadia Realty Trust from a sell rating to a hold rating in a research report on Wednesday, March 24th. TheStreet upgraded shares of Acadia Realty Trust from a d rating to a c- rating in a research report on Friday, April 30th. Finally, Truist boosted their price objective on shares of Acadia Realty Trust from $15.00 to $20.00 in a research report on Friday, March 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $16.50.

Acadia Realty Trust stock opened at $22.62 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $1.95 billion, a P/E ratio of 377.00, a PEG ratio of 3.65 and a beta of 1.48. The stock has a fifty day simple moving average of $21.03. Acadia Realty Trust has a twelve month low of $9.10 and a twelve month high of $22.97.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.18. Acadia Realty Trust had a net margin of 1.80% and a return on equity of 0.22%. As a group, analysts predict that Acadia Realty Trust will post 1.08 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, June 29th. Acadia Realty Trust’s dividend payout ratio is currently 58.82%.

In other Acadia Realty Trust news, VP Joseph Napolitano sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $20.60, for a total value of $103,000.00. Following the sale, the vice president now owns 3,000 shares in the company, valued at $61,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jason Blacksberg sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $22.13, for a total transaction of $66,390.00. Following the completion of the sale, the vice president now owns 3,000 shares in the company, valued at approximately $66,390. The disclosure for this sale can be found here. Insiders have sold 10,523 shares of company stock worth $220,608 in the last quarter. 2.68% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AKR. Eaton Vance Management purchased a new stake in Acadia Realty Trust in the first quarter worth about $36,000. Van ECK Associates Corp lifted its stake in shares of Acadia Realty Trust by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 3,408 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 850 shares in the last quarter. Veriti Management LLC bought a new position in shares of Acadia Realty Trust in the fourth quarter worth approximately $52,000. US Bancorp DE lifted its stake in shares of Acadia Realty Trust by 27.6% in the first quarter. US Bancorp DE now owns 3,098 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 670 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Acadia Realty Trust in the fourth quarter worth approximately $166,000.

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 Â- Core Portfolio and Fund Â- 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.

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