Truist Financial Trims Acadia Realty Trust (NYSE:AKR) Target Price to $23.00

Acadia Realty Trust (NYSE:AKRGet Rating) had its price objective reduced by Truist Financial from $27.00 to $23.00 in a research report report published on Tuesday morning, The Fly reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on AKR. assumed coverage on shares of Acadia Realty Trust in a report on Thursday, March 31st. They issued a hold rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Acadia Realty Trust from $23.00 to $19.00 in a report on Wednesday, June 15th.

AKR stock opened at $15.88 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50-day moving average price of $19.22 and a 200 day moving average price of $20.51. The company has a market capitalization of $1.51 billion, a P/E ratio of 41.79, a PEG ratio of 1.73 and a beta of 1.33. Acadia Realty Trust has a 1-year low of $15.37 and a 1-year high of $23.33.

Acadia Realty Trust (NYSE:AKRGet Rating) last released its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.11). Acadia Realty Trust had a net margin of 11.45% and a return on equity of 1.48%. During the same period in the prior year, the company earned $0.25 earnings per share. On average, analysts anticipate that Acadia Realty Trust will post 1.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.53%. Acadia Realty Trust’s payout ratio is 189.48%.

In other news, Director Wendy W. Luscombe sold 1,500 shares of the business’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $21.18, for a total transaction of $31,770.00. Following the sale, the director now owns 33,399 shares in the company, valued at $707,390.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.75% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its position in Acadia Realty Trust by 225.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,670 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 1,157 shares during the last quarter. KBC Group NV purchased a new stake in Acadia Realty Trust in the 4th quarter worth approximately $39,000. Selective Wealth Management Inc. purchased a new stake in Acadia Realty Trust in the 4th quarter worth approximately $44,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Acadia Realty Trust in the 3rd quarter worth approximately $43,000. Finally, Quantbot Technologies LP purchased a new stake in Acadia Realty Trust in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 98.23% of the company’s stock.

Acadia Realty Trust Company Profile (Get Rating)

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.

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