Compass Point assumed coverage on shares of Acadia Realty Trust (NYSE:AKR) in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $30.00 target price on the real estate investment trust’s stock.
Several other equities research analysts have also recently commented on AKR. Citigroup set a $30.00 price objective on Acadia Realty Trust and gave the company a hold rating in a research report on Monday, May 20th. Zacks Investment Research raised Acadia Realty Trust from a sell rating to a hold rating in a research report on Wednesday, August 14th. Finally, ValuEngine cut Acadia Realty Trust from a buy rating to a hold rating in a research report on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $31.00.
NYSE AKR opened at $27.70 on Thursday. Acadia Realty Trust has a 12 month low of $23.11 and a 12 month high of $29.82. The stock has a market cap of $2.32 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.47 and a beta of 0.68. The stock’s fifty day moving average price is $27.56 and its 200-day moving average price is $28.02. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.80.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Acadia Realty Trust had a return on equity of 1.78% and a net margin of 13.32%. The company had revenue of $71.10 million for the quarter, compared to analysts’ expectations of $57.31 million. During the same period last year, the firm posted $0.09 earnings per share. Acadia Realty Trust’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Acadia Realty Trust will post 1.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, September 27th. This represents a $1.12 annualized dividend and a dividend yield of 4.04%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 82.96%.
In other Acadia Realty Trust news, EVP Christopher Conlon sold 20,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $27.83, for a total value of $556,600.00. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $278,300. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John J. Gottfried sold 30,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $27.78, for a total value of $833,400.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $833,400. The disclosure for this sale can be found here. Company insiders own 2.47% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Private Capital Group LLC lifted its holdings in Acadia Realty Trust by 31.5% in the first quarter. Private Capital Group LLC now owns 2,683 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 643 shares during the period. Quadrant Capital Group LLC lifted its holdings in Acadia Realty Trust by 3,884.3% in the first quarter. Quadrant Capital Group LLC now owns 3,307 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 3,224 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Acadia Realty Trust by 11.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,444 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 461 shares during the period. Pearl River Capital LLC lifted its holdings in Acadia Realty Trust by 3,138.0% in the first quarter. Pearl River Capital LLC now owns 6,476 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 6,276 shares during the period. Finally, Redpoint Investment Management Pty Ltd bought a new position in Acadia Realty Trust in the second quarter valued at about $201,000.
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 – Core 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 urban and street-retail 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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