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. StockNews.com 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.

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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.

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