Acadia Realty Trust (NYSE:AKR) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Acadia Realty Trust's rating has been downgraded by Zacks Research from "hold" to a "strong sell," signaling a lack of confidence in the stock's performance.
• Despite the downgrade, Citigroup upgraded the stock from "neutral" to "buy" with a revised target price of $23, highlighting mixed analyst sentiments about the company's future.
• The company reported a 12-month low of $16.98 and a high of $26.29, indicating significant volatility in its stock price over the year.

Acadia Realty Trust (NYSE:AKR - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. LADENBURG THALM/SH SH began coverage on shares of Acadia Realty Trust in a research note on Tuesday, September 9th. They set a "neutral" rating and a $21.00 price target on the stock. Citigroup upgraded Acadia Realty Trust from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $20.00 to $23.00 in a research report on Friday, September 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Acadia Realty Trust in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded Acadia Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Acadia Realty Trust has a consensus rating of "Hold" and an average target price of $23.50.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $20.00 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day simple moving average of $19.60 and a 200-day simple moving average of $19.45. Acadia Realty Trust has a 12 month low of $16.98 and a 12 month high of $26.29. The stock has a market capitalization of $2.62 billion, a PE ratio of 124.98, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share (EPS) 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 analyst estimates 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 quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Equities analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Hedge Funds Weigh In On Acadia Realty Trust

Several hedge funds have recently bought and sold shares of AKR. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Acadia Realty Trust in the 1st quarter worth about $36,166,000. Engineers Gate Manager LP acquired a new position in Acadia Realty Trust during the second quarter worth about $29,771,000. Alyeska Investment Group L.P. acquired a new position in Acadia Realty Trust during the first quarter worth about $23,872,000. Alliancebernstein L.P. lifted its holdings in shares of 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 valued at $64,444,000 after purchasing an additional 649,459 shares in the last quarter. Finally, State Street Corp grew its position in shares of 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 valued at $139,802,000 after purchasing an additional 632,722 shares during the last quarter. 97.65% of the stock is 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.

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