Acadia Realty Trust (NYSE:AKR) Reaches New 1-Year High – Still a Buy?

Shares of Acadia Realty Trust (NYSE:AKR) hit a new 52-week high during trading on Monday . The company traded as high as $25.61 and last traded at $25.57, with a volume of 185609 shares. The stock had previously closed at $25.22.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AKR shares. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial upped their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Acadia Realty Trust Stock Up 1.8 %

The company has a 50-day moving average of $24.08 and a two-hundred day moving average of $21.14. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $3.12 billion, a PE ratio of 289.44, a P/E/G ratio of 6.47 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. Sell-side analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.91%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 844.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Acadia Realty Trust by 32.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,322 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 572 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Acadia Realty Trust during the third quarter worth about $80,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Acadia Realty Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 1,039 shares during the period. SG Americas Securities LLC purchased a new position in Acadia Realty Trust in the 2nd quarter worth approximately $103,000. Finally, Algert Global LLC bought a new position in Acadia Realty Trust in the 2nd quarter worth approximately $186,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

About Acadia Realty Trust

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.