Acadia Realty Trust (NYSE:AKR) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Consensus "Hold" rating: Six analysts give AKR an average rating of "Hold" (four holds, two buys) with a 1-year average price target of $22.25.
• Earnings miss but revenue growth: Acadia reported Q EPS of $0.04 versus $0.32 expected while revenue rose 12.3% to $104.77 million, and shares traded around $19.07.
• Dividend and payout concerns: The REIT declared a $0.20 quarterly dividend (4.2% yield) payable April 15 with an ex-dividend date of March 31, though the payout ratio is very high at 888.89%.

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

AKR has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Truist Financial lowered their price objective on shares of Acadia Realty Trust from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, November 28th. Citigroup boosted their target price on shares of Acadia Realty Trust from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Zacks Research raised Acadia Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on Acadia Realty Trust from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, March 20th.

Acadia Realty Trust Trading Down 0.4%

Shares of NYSE AKR traded down $0.08 during mid-day trading on Friday, hitting $19.07. 195,857 shares of the company traded hands, compared to its average volume of 1,274,315. 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 has a 1 year low of $16.98 and a 1 year high of $22.36. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 211.52, a PEG ratio of 1.92 and a beta of 1.09. The business has a 50 day moving average of $20.40 and a two-hundred day moving average of $20.19.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.28). Acadia Realty Trust had a return on equity of 0.49% and a net margin of 3.22%.The company had revenue of $104.77 million during the quarter, compared to analysts' expectations of $92.19 million. During the same period in the prior year, the business posted $0.32 EPS. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Acadia Realty Trust's payout ratio is 888.89%.

Institutional Trading of Acadia Realty Trust

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

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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