Acadia Realty Trust (NYSE:AKR) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Acadia Realty Trust from “hold” to “sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $23.80.
• AKR shares opened at $19.04, near the lower end of their 12-month range of $17.96 to $23.03, while the stock trades at a price-to-earnings ratio of 56.00.
• Acadia Realty Trust reported quarterly EPS of $0.05, missing estimates by $0.25, as revenue fell 5.1% year over year; institutional investors nevertheless own approximately 97.65% of the shares.

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

AKR has been the topic of several other research reports. Truist Financial began coverage on Acadia Realty Trust in a report on Thursday, October 1st. They set a "buy" rating and a $22.00 price objective on the stock. KeyCorp reissued an "overweight" rating on shares of Acadia Realty Trust in a report on Wednesday, September 23rd. Citigroup boosted 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, Weiss Ratings cut Acadia Realty Trust from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.80.

Acadia Realty Trust Trading Down 0.2%

Shares of Acadia Realty Trust stock opened at $19.04 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $19.33 and a 200-day simple moving average of $20.62. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 2.09 and a beta of 1.11. Acadia Realty Trust has a 12-month low of $17.96 and a 12-month high of $23.03.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). Acadia Realty Trust had a return on equity of 1.85% and a net margin of 12.14%. The company had revenue of $95.42 million for the quarter, compared to analyst estimates of $92.36 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Acadia Realty Trust's revenue was down 5.1% compared to the same quarter last year. On average, equities analysts forecast that Acadia Realty Trust will post 1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AKR. Salomon & Ludwin LLC increased its position in 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 during the period. Nykredit A S purchased a new stake in Acadia Realty Trust during the 2nd quarter valued at approximately $47,000. Pinnacle Wealth Planning Services Inc. lifted its position in Acadia Realty Trust by 49.0% during 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 acquiring an additional 1,326 shares during the period. Signaturefd LLC lifted its position in Acadia Realty Trust by 367.4% during the 3rd quarter. Signaturefd LLC now owns 4,235 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 3,329 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Acadia Realty Trust during the 2nd quarter worth approximately $293,000. 97.65% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.