Acadia Realty Trust (NYSE:AKR) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Acadia Realty Trust (NYSE: AKR) from “sell” to “strong sell.” Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus, with an average price target of $23.80.
• Acadia reported quarterly EPS of -$0.03, missing the $0.31 consensus estimate. Revenue of $94.98 million slightly beat estimates but declined 6% year over year.
• AKR shares opened at $19.77; the stock’s reported 52-week range was $17.96 to $23.03.

Acadia Realty Trust (NYSE:AKR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Acadia Realty Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday. KeyCorp reaffirmed an "overweight" rating on shares of Acadia Realty Trust in a report on Wednesday, September 23rd. Citigroup upped their target price on Acadia Realty Trust from $24.00 to $26.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Truist Financial started coverage on Acadia Realty Trust in a research report on Thursday, October 1st. They set a "buy" rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.80.

Acadia Realty Trust Stock Up 0.4%

Shares of NYSE:AKR opened at $19.77 on Friday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 70.62, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. Acadia Realty Trust has a 1-year low of $17.96 and a 1-year high of $23.03. The company's fifty day moving average is $19.18 and its two-hundred day moving average is $20.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.23.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.34). Acadia Realty Trust had a net margin of 10.23% and a return on equity of 1.54%. The business had revenue of $94.98 million during the quarter, compared to analyst estimates of $94.38 million. During the same period last year, the firm posted $0.03 earnings per share. The company's quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts anticipate that Acadia Realty Trust will post 1.25 EPS for the current year.

Institutional Trading of Acadia Realty Trust

Large investors have recently modified their holdings of the company. Corient Private Wealth LP increased its holdings in shares of Acadia Realty Trust by 1.0% during the 2nd quarter. Corient Private Wealth LP now owns 73,910 shares of the real estate investment trust's stock valued at $1,545,000 after acquiring an additional 722 shares during the last quarter. Salomon & Ludwin LLC raised its stake in shares of Acadia Realty Trust by 145.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,637 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 969 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Acadia Realty Trust by 0.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 255,679 shares of the real estate investment trust's stock worth $4,791,000 after purchasing an additional 1,182 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in Acadia Realty Trust by 49.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,032 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Nykredit A S bought a new stake in Acadia Realty Trust during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 97.65% of the company's stock.

Acadia Realty Trust Company Profile

Acadia Realty Trust NYSE: AKR is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.

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