Acadia Realty Trust (NYSE:AKR) Upgraded by Citigroup to "Buy" Rating

Key Points

• Citigroup has upgraded Acadia Realty Trust's stock from "neutral" to "buy," raising the target price from $20.00 to $23.00, indicating a potential upside of 16.20%.
• Despite the positive upgrade, Wall Street Zen has recently downgraded the stock from "hold" to "sell," resulting in a mixed outlook from analysts with a consensus rating of "Moderate Buy."
• Acadia Realty Trust reported quarterly earnings of $0.32 per share, falling short of estimates, but its annual revenue increased by 15.3% year-over-year.

Acadia Realty Trust (NYSE:AKR - Get Free Report) was upgraded by Citigroup from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a $23.00 target price on the real estate investment trust's stock, up from their previous target price of $20.00. Citigroup's price target would indicate a potential upside of 16.20% from the stock's previous close.

AKR has been the subject of a number of other reports. Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. LADENBURG THALM/SH SH began coverage on shares of Acadia Realty Trust in a research note on Tuesday. They set a "neutral" rating and a $21.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Acadia Realty Trust Price Performance

Shares of NYSE:AKR opened at $19.79 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.59 billion, a P/E ratio of 123.72, a PEG ratio of 3.88 and a beta of 1.48. Acadia Realty Trust has a 52 week low of $16.98 and a 52 week high of $26.29. The company has a 50-day moving average price of $19.10 and a 200 day moving average price of $19.69.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). Acadia Realty Trust had a net margin of 5.31% and a return on equity of 0.79%. The company had revenue of $98.30 million for the quarter, compared to analyst estimates of $81.89 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. Acadia Realty Trust's revenue was up 15.3% on a year-over-year basis. Acadia Realty Trust has set its FY 2025 guidance at 1.320-1.390 EPS. Research 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

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its holdings in shares of Acadia Realty Trust by 189.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 902 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Acadia Realty Trust in the 4th quarter valued at $46,000. Osaic Holdings Inc. lifted its holdings in shares of Acadia Realty Trust by 32.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 547 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Acadia Realty Trust during the 2nd quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Acadia Realty Trust by 342.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 2,309 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Company Profile

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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