Acadia Realty Trust (NYSE:AKR) sets fresh 52-week low after analyst downgrade

Acadia Realty Trust (NYSE:AKR – Get Rating) hit a fresh 52-week low during midday trade on Wednesday after Compass Point cut its price target on the stock to $23.00 from $25.00. The stock traded as low as $15.48 and last traded at $15.65 with volume of 2239 shares traded. The stock had previously closed at $15.74.

Several other brokerage firms have also recently commented on AKR. Truist Financial cut its target price on shares of Acadia Realty Trust to $23.00 from $27.00 and gave the company a “buy” rating in a research note Tuesday. began reporting shares of Acadia Realty Trust in a report on Thursday, March 31st. They give the company a “hold” rating. Finally, JPMorgan Chase & Co. lowered its price target on shares of Acadia Realty Trust from $23.00 to $19.00 in a report on Wednesday, June 15.

In related news, Director Wendy W. Luscombe sold 1,500 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $21.18 for a total transaction of $31,770.00. Upon completion of the transaction, the Director now directly owns 33,399 shares of the Company, valued at $707,390.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders own 2.75% of the company’s shares.


The shift to renewable energy means lithium demand could skyrocket by 1,000% by 2030. However, China controls 80% of the world’s lithium supply, and the US warns that China’s monopoly poses a national security and economic threat. Nevada’s famed lithium deposits may be the best antidote to resist Chinese lithium dominance.

Institutional investors recently changed their holdings in the company. Bank of America Corp DE increased its stake in Acadia Realty Trust by 29.6% in the fourth quarter. Bank of America Corp DE now owns 269,624 shares of the real estate investment trust worth $5,886,000 after buying another 61,590 shares last quarter. Pictet Asset Management SA increased its stake in Acadia Realty Trust shares by 3.3% in the fourth quarter. Pictet Asset Management SA now owns 31,994 shares in the $698,000 real estate mutual fund after purchasing a further 1,011 shares last quarter. Yousif Capital Management LLC acquired a new position in shares of Acadia Realty Trust valued at approximately $1,749,000 during the fourth quarter. abrdn plc increased its stake in Acadia Realty Trust by 5.9% during the fourth quarter. ardn plc now owns 18,665 shares of the Real Estate Investment Trust valued at $407,000 after purchasing an additional 1,035 shares last quarter. Finally, Barclays PLC added 30.0% to its position in Acadia Realty Trust during the fourth quarter. Barclays PLC now owns 179,719 shares of the Real Estate Investment Trust valued at $3,923,000 after purchasing an additional 41,508 shares last quarter. 98.23% of the shares are owned by institutional investors.

The stock’s 50-day moving average is $19.44 and its 200-day moving average is $20.58. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-to-growth ratio of 1.75 and a beta of 1.33. The company has a gearing ratio of 0.76, a current ratio of 1.21 and a quick ratio of 1.21.

Acadia Realty Trust (NYSE:AKR – Get Rating) last reported its earnings results on Monday, May 2nd. The Real Estate Investment Trust reported earnings per share (EPS) of $0.18 for the quarter, beating analyst consensus estimates of $0.29 ($0.11). Acadia Realty Trust had a return on equity of 1.48% and a net margin of 11.45%. In the same quarter last year, the company posted $0.25 per share. Analysts are predicting that Acadia Realty Trust will post 1.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30 will receive a dividend of $0.18 per share. The ex-dividend date is Wednesday June 29th. That equates to an annual dividend of $0.72 and a yield of 4.60%. Acadia Realty Trust’s Dividend Payout Ratio (DPR) is currently 189.48%.

About Acadia Realty Trust (NYSE:AKR)

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth through its dual operating platforms – core portfolio and funds – and its disciplined, location-centric investment strategy. Acadia Realty Trust achieves this goal by building a prime core real estate portfolio with significant asset concentrations in the country’s most dynamic corridors; profitable opportunistic and value-added investments through its range of discretionary institutional funds; and maintaining a strong balance sheet.

Selected items

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team before publication. Please send questions or comments about this story to [email protected]

Should You Invest $1,000 in Acadia Realty Trust Now?

Hear this before you consider Acadia Realty Trust.

MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and Acadia Realty Trust wasn’t on the list.

While Acadia Realty Trust currently has a buy rating among analysts, top analysts believe these five stocks are better buys.

Check out the 5 stocks here

Leave a Comment