Acadia Realty Trust (NYSE:AKR) Downgraded by Wall Street Zen to Sell

Key Points

• Acadia Realty Trust (NYSE:AKR) was downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook for the stock.
• Conversely, Truist Financial upgraded the same stock from "hold" to "buy" with a price target of $23.00, suggesting differing analyst perspectives on its potential.
• For the last quarter, Acadia Realty Trust reported earnings of $0.32 per share, slightly missing the consensus estimate, but achieving a 15.3% increase in revenue compared to the previous year.

Acadia Realty Trust (NYSE:AKR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Truist Financial upgraded Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Thursday, April 10th.

Acadia Realty Trust Stock Performance

NYSE:AKR traded up $0.29 during trading hours on Friday, hitting $18.79. 712,732 shares of the company traded hands, compared to its average volume of 1,245,573. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 117.54, a P/E/G ratio of 2.91 and a beta of 1.41. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $26.29. The firm has a 50-day moving average of $18.92 and a 200 day moving average of $20.41. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.31 EPS. On average, analysts forecast that Acadia Realty Trust will post 1.34 EPS for the current year.

Institutional Trading of Acadia Realty Trust

Several hedge funds have recently modified their holdings of AKR. GAMMA Investing LLC grew its holdings in Acadia Realty Trust by 2,163.7% during the 1st quarter. GAMMA Investing LLC now owns 68,025 shares of the real estate investment trust's stock worth $1,425,000 after acquiring an additional 65,020 shares during the last quarter. Norges Bank bought a new position in Acadia Realty Trust in the 4th quarter valued at $8,439,000. Principal Financial Group Inc. boosted its position in Acadia Realty Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 670,957 shares of the real estate investment trust's stock valued at $14,057,000 after buying an additional 16,957 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Acadia Realty Trust by 10.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,227,613 shares of the real estate investment trust's stock valued at $25,718,000 after buying an additional 116,855 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Acadia Realty Trust by 12.3% in the 1st quarter. Arizona State Retirement System now owns 34,321 shares of the real estate investment trust's stock valued at $719,000 after purchasing an additional 3,753 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

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.