Acadia Realty Trust (NYSE:AKR) Lifted to "Buy" at Bank of America

Bank of America upgraded shares of Acadia Realty Trust (NYSE:AKR - Free Report) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat Ratings reports. The firm currently has $20.00 price objective on the real estate investment trust's stock, up from their previous price objective of $18.00.

A number of other equities analysts have also issued reports on the stock. Jefferies Financial Group upgraded shares of Acadia Realty Trust from a hold rating to a buy rating and increased their target price for the company from $15.00 to $20.00 in a research report on Tuesday, January 2nd. Truist Financial lowered shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 target price for the company. in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $18.50.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock traded up $0.22 during trading on Friday, hitting $16.53. 1,235,396 shares of the stock were exchanged, compared to its average volume of 1,185,882. The stock's fifty day moving average is $16.69 and its 200 day moving average is $15.89. The stock has a market cap of $1.70 billion, a PE ratio of 87.00 and a beta of 1.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. Acadia Realty Trust has a 12 month low of $12.37 and a 12 month high of $17.73.

Acadia Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.72 annualized dividend and a dividend yield of 4.36%. Acadia Realty Trust's dividend payout ratio (DPR) is 378.97%.

Hedge Funds Weigh In On Acadia Realty Trust

Several large investors have recently made changes to their positions in AKR. Quantbot Technologies LP bought a new position in shares of Acadia Realty Trust during the 1st quarter valued at about $45,000. Federated Hermes Inc. boosted its position in shares of Acadia Realty Trust by 189.9% during the 3rd quarter. Federated Hermes Inc. now owns 3,285 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 2,152 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Acadia Realty Trust by 128.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,088 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 2,295 shares in the last quarter. State of Wyoming purchased a new stake in Acadia Realty Trust during the second quarter valued at about $59,000. Finally, GAMMA Investing LLC purchased a new stake in Acadia Realty Trust during the fourth quarter valued at about $61,000. 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.