Acadia Realty Trust (NYSE:AKR) Now Covered by LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH has initiated coverage on Acadia Realty Trust with a "neutral" rating and a $21.00 price target, indicating a potential upside of 6.73% from the current price.
• Acadia Realty Trust's quarterly earnings report showed an EPS of $0.32, which was below analysts' expectations of $0.33, though revenue increased by 15.3% year-over-year.
• Institutional investors own 97.65% of Acadia Realty Trust's stock, with significant position increases from hedge funds in the last quarter.

LADENBURG THALM/SH SH assumed coverage on shares of Acadia Realty Trust (NYSE:AKR - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm issued a neutral rating and a $21.00 price objective on the real estate investment trust's stock.

Separately, Wall Street Zen downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Acadia Realty Trust Price Performance

Shares of NYSE AKR traded up $0.40 during midday trading on Tuesday, hitting $20.17. The stock had a trading volume of 2,141,544 shares, compared to its average volume of 1,301,148. The company has a market capitalization of $2.64 billion, a PE ratio of 126.07, a P/E/G ratio of 3.96 and a beta of 1.48. The stock has a 50 day simple moving average of $19.13 and a 200-day simple moving average of $19.64. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $26.29. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $98.30 million during the quarter, compared to analysts' expectations of $81.89 million. Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The business's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. On average, sell-side analysts expect that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.20 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.0%. Acadia Realty Trust's dividend payout ratio is 500.00%.

Institutional Investors Weigh In On Acadia Realty Trust

A number of large investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Acadia Realty Trust in the first quarter worth approximately $36,166,000. Engineers Gate Manager LP purchased a new position in Acadia Realty Trust in the second quarter worth approximately $29,771,000. Alyeska Investment Group L.P. purchased a new position in Acadia Realty Trust in the first quarter worth approximately $23,872,000. Alliancebernstein L.P. grew its position in Acadia Realty Trust by 26.8% in the first quarter. Alliancebernstein L.P. now owns 3,076,073 shares of the real estate investment trust's stock worth $64,444,000 after acquiring an additional 649,459 shares during the period. Finally, State Street Corp grew its position in Acadia Realty Trust by 9.3% in the second quarter. State Street Corp now owns 7,450,026 shares of the real estate investment trust's stock worth $139,802,000 after acquiring an additional 632,722 shares during the period. 97.65% of the stock is currently owned by hedge funds and other institutional investors.

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.