Acadia Realty Trust (NYSE:AKR) Receives Average Rating of "Hold" from Brokerages

Key Points

• The six covering brokerages give AKR an average recommendation of "Hold" (four holds, two buys) with an average 1‑year price target of $22.25; recent analyst moves include Citigroup raising its target to $24 (buy) while Wall Street Zen downgraded to sell.
• Institutional investors own about 97.65% of the company, with recent sizable stake increases from Millennium, UBS and Royal Bank of Canada and a new position by Jane Street.
• Acadia missed quarterly EPS ($0.04 vs. $0.32 estimate) despite a revenue beat, and it pays a quarterly dividend that annualizes to a 3.8% yield while showing an unusually high payout ratio (888.89%).

Shares of Acadia Realty Trust (NYSE:AKR - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $22.25.

A number of analysts have recently issued reports on AKR shares. Wall Street Zen lowered Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Weiss Ratings restated a "hold (c)" rating on shares of Acadia Realty Trust in a research report on Wednesday, January 21st. Zacks Research raised Acadia Realty Trust from a "strong sell" rating to a "hold" rating in a research note on Monday, March 23rd. Citigroup raised their target price on Acadia Realty Trust from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Acadia Realty Trust from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, March 20th.

Institutional Trading of Acadia Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of Acadia Realty Trust by 83.2% in the 1st quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust's stock valued at $885,000 after acquiring an additional 19,184 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Acadia Realty Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,734 shares of the real estate investment trust's stock worth $1,461,000 after purchasing an additional 3,045 shares during the period. Millennium Management LLC lifted its position in shares of Acadia Realty Trust by 31.1% during the 1st quarter. Millennium Management LLC now owns 811,139 shares of the real estate investment trust's stock worth $16,993,000 after purchasing an additional 192,267 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Acadia Realty Trust by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust's stock worth $17,145,000 after purchasing an additional 82,974 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Acadia Realty Trust in the 1st quarter valued at approximately $1,284,000. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Price Performance

AKR opened at $21.33 on Tuesday. Acadia Realty Trust has a 52-week low of $18.04 and a 52-week high of $22.36. The company has a 50 day moving average of $20.33 and a two-hundred day moving average of $20.20. The company has a market cap of $2.80 billion, a P/E ratio of 237.06, a P/E/G ratio of 2.18 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.28). Acadia Realty Trust had a net margin of 3.22% and a return on equity of 0.49%. The business had revenue of $104.77 million for the quarter, compared to analyst estimates of $92.19 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business's revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that Acadia Realty Trust will post 1.23 earnings per share for the current year.

Acadia Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.20 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. Acadia Realty Trust's dividend payout ratio is presently 888.89%.

About Acadia Realty Trust

Acadia Realty Trust NYSE: AKR is a Maryland real estate investment trust (REIT) that focuses on the acquisition, development, ownership and operation of grocery-anchored and necessity-based shopping centers. The company targets retail properties that serve densely populated urban and suburban markets and typically feature essential tenants such as supermarkets, drugstores, fitness centers and other service-oriented retailers. As a self-managed REIT, Acadia oversees leasing, property management, financing and construction activities through its in-house platform.

Acadia's portfolio is diversified across property types and lease structures, with an emphasis on sites that benefit from long-term consumer traffic and resilient tenancy.

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