ValuEngine Downgrades Acadia Realty Trust (NYSE:AKR) to Hold

ValuEngine downgraded shares of Acadia Realty Trust (NYSE:AKR) from a buy rating to a hold rating in a research note published on Wednesday, ValuEngine reports.

Several other research firms have also recently issued reports on AKR. Zacks Investment Research raised shares of Acadia Realty Trust from a hold rating to a buy rating and set a $32.00 price target on the stock in a research note on Wednesday, May 15th. Citigroup set a $30.00 price target on shares of Acadia Realty Trust and gave the stock a hold rating in a research note on Monday, May 20th.

Shares of NYSE AKR opened at $28.18 on Wednesday. The stock has a market capitalization of $2.33 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 3.33 and a beta of 0.71. Acadia Realty Trust has a 52 week low of $23.11 and a 52 week high of $29.82. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.22). The business had revenue of $74.80 million during the quarter, compared to analyst estimates of $51.36 million. Acadia Realty Trust had a net margin of 13.17% and a return on equity of 1.71%. Acadia Realty Trust’s revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that Acadia Realty Trust will post 1.41 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.12 annualized dividend and a dividend yield of 3.97%. Acadia Realty Trust’s dividend payout ratio is currently 82.96%.

In other Acadia Realty Trust news, EVP Christopher Conlon sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $27.83, for a total transaction of $556,600.00. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $278,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jason Blacksberg sold 1,897 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $28.51, for a total transaction of $54,083.47. Following the sale, the vice president now directly owns 4,000 shares in the company, valued at $114,040. The disclosure for this sale can be found here. Insiders have sold a total of 28,574 shares of company stock worth $801,806 over the last ninety days. 2.47% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in AKR. Bank of Montreal Can boosted its stake in shares of Acadia Realty Trust by 68.4% during the 4th quarter. Bank of Montreal Can now owns 2,443 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 992 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Acadia Realty Trust by 19.7% in the fourth quarter. Rhumbline Advisers now owns 250,271 shares of the real estate investment trust’s stock worth $5,946,000 after acquiring an additional 41,204 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Acadia Realty Trust by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 700 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Acadia Realty Trust in the fourth quarter worth approximately $389,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Acadia Realty Trust in the fourth quarter worth approximately $31,000.

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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

Further Reading: How Do You Calculate Return on Investment (ROI)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Acadia Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acadia Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.