Acadia Realty Trust (NYSE:AKR – Valuation Received) The target price was cut from $25.00 to $23.00 by equity analysts at Compass Point in a research report issued to clients and investors on Wednesday, reports The Fly. Compass Point’s price target indicates a potential upside of 46.12% from the company’s current price.
A number of other equity analysts also recently commented on the company. StockNews.com began coverage of Acadia Realty Trust in a report on Thursday, March 31st. They give the company a “hold” rating. JPMorgan Chase & Co. lowered its price target on Acadia Realty Trust to $19.00 from $23.00 in a report on Wednesday, June 15. Finally, Truist Financial lowered its price target on Acadia Realty Trust to $23.00 from $27.00 and gave the company a “buy” rating in a report Tuesday.
NYSE:AKR opened at $15.74 on Wednesday. The company has a market cap of $1.49 billion, a P/E of 41.42, a price-to-earnings-to-growth ratio of 1.75 and a beta of 1.33. Acadia Realty Trust has a 52-week low of $15.56 and a 52-week high of $23.33. The company has a gearing ratio of 0.76, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50-day moving average price of $19.44 and a 200-day moving average price of $20.58.
Acadia Realty Trust (NYSE:AKR – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The Real Estate Investment Trust reported earnings per share of $0.18 for the quarter, missing analyst consensus estimates of $0.29 ($0.11). Acadia Realty Trust had a net margin of 11.45% and a return on equity of 1.48%. In the same period last year, the company posted $0.25 per share. Research analysts are forecasting that Acadia Realty Trust will post 1.25 EPS for the year to date.
In other news from Acadia Realty Trust, Director Wendy W. Luscombe sold 1,500 shares of the stock in one transaction on Monday, April 18th. The stock sold at an average price of $21.18 for a total value of $31,770.00. Upon completion of the transaction, the Director now owns 33,399 shares of the Company, valued at $707,390.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC’s website. 2.75% of the shares are owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares in AKR. Cohen & Steers Inc. increased its stake in Acadia Realty Trust by 69.1% during the first quarter. Cohen & Steers Inc. now owns 11,640,773 shares of the Real Estate Investment Trust worth $252,256,000 after purchasing an additional 4,758,579 shares last quarter. Norges Bank acquired a new stake in Acadia Realty Trust stock valued at $18,662,000 during the fourth quarter. State Street Corp increased its stake in Acadia Realty Trust shares by 12.3% during the first quarter. State Street Corp now owns 5,525,753 shares of the Real Estate Investment Trust worth $120,714,000 after purchasing an additional 606,843 shares last quarter. GRS Advisors LLC acquired a new interest in Acadia Realty Trust stock valued at $12,441,000 during the first quarter. Finally, Citadel Advisors LLC increased its stake in Acadia Realty Trust stock by 387.9% during the fourth quarter. Citadel Advisors LLC now owns 570,182 shares of the Real Estate Investment Trust valued at $12,447,000 after purchasing an additional 453,318 shares last quarter. Institutional investors and hedge funds own 98.23% of the company’s shares.
Company Profile of Acadia Realty Trust (get rating)
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 concentrations of assets in the country’s most dynamic corridors; make profitable opportunistic and value-added investments through its range of discretionary institutional funds; and maintaining a strong balance sheet.
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