Acadia Realty Trust (NYSE:AKR) Rating Increased to Buy at Citigroup

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 investment analysts at Citigroup from a "neutral" rating to a "buy" rating in a report released on Friday, MarketBeat reports. The firm presently 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 suggests a potential upside of 11.65% from the company's previous close.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Acadia Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. LADENBURG THALM/SH SH assumed coverage on Acadia Realty Trust in a report on Tuesday, September 9th. They set a "neutral" rating and a $21.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.50.

Acadia Realty Trust Price Performance

AKR traded up $0.45 during midday trading on Friday, hitting $20.60. The stock had a trading volume of 423,575 shares, compared to its average volume of 1,276,028. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.05. Acadia Realty Trust has a 1 year low of $16.98 and a 1 year high of $26.29. The business has a fifty day moving average of $19.21 and a 200 day moving average of $19.60. The company has a market cap of $2.70 billion, a P/E ratio of 129.26, a price-to-earnings-growth ratio of 4.05 and a beta of 1.48.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). Acadia Realty Trust had a return on equity of 0.79% and a net margin of 5.31%.The company had revenue of $98.30 million during the quarter, compared to analysts' expectations of $81.89 million. During the same period in the prior year, the company posted $0.31 earnings per share. The company'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. As a group, equities analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in Acadia Realty Trust by 189.5% during the second quarter. Hantz Financial Services Inc. now owns 1,378 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 902 shares during the last quarter. Osaic Holdings Inc. increased its stake in Acadia Realty Trust by 32.8% during the second quarter. Osaic Holdings Inc. now owns 2,213 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 547 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Acadia Realty Trust during the fourth quarter worth $46,000. Raymond James Financial Inc. acquired a new stake in Acadia Realty Trust during the second quarter worth $47,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Acadia Realty Trust by 342.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,984 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 2,309 shares in the last quarter. Hedge funds and other institutional investors 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.