Acadia Realty Trust (AKR) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a report released on Thursday.

According to Zacks, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. “

Other research analysts also recently issued reports about the stock. Bank of America boosted their price objective on shares of Acadia Realty Trust from $30.00 to $32.00 and gave the company a buy rating in a research report on Monday, September 17th. ValuEngine raised shares of Acadia Realty Trust from a sell rating to a hold rating in a research report on Saturday, August 18th. Finally, Citigroup boosted their price objective on shares of Acadia Realty Trust from $27.00 to $29.00 and gave the company a neutral rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Acadia Realty Trust has an average rating of Hold and an average target price of $31.33.

Shares of AKR opened at $27.58 on Thursday. Acadia Realty Trust has a 52 week low of $21.34 and a 52 week high of $29.28. The company has a market cap of $2.25 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.38 and a beta of 0.28. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. Acadia Realty Trust had a net margin of 17.43% and a return on equity of 2.09%. The firm had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.66 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts predict that Acadia Realty Trust will post 1.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.06%. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, December 28th. Acadia Realty Trust’s payout ratio is currently 71.52%.

In other Acadia Realty Trust news, Director Wendy W. Luscombe sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $28.00, for a total value of $126,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.15% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in Acadia Realty Trust in the second quarter worth approximately $297,000. Russell Investments Group Ltd. grew its position in Acadia Realty Trust by 10.3% in the third quarter. Russell Investments Group Ltd. now owns 536,034 shares of the real estate investment trust’s stock worth $14,921,000 after acquiring an additional 50,130 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in Acadia Realty Trust by 13.8% in the third quarter. Xact Kapitalforvaltning AB now owns 15,632 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 1,900 shares in the last quarter. Phocas Financial Corp. grew its position in Acadia Realty Trust by 16.3% in the second quarter. Phocas Financial Corp. now owns 391,766 shares of the real estate investment trust’s stock worth $10,723,000 after acquiring an additional 54,784 shares in the last quarter. Finally, 6 Meridian bought a new stake in Acadia Realty Trust in the second quarter worth approximately $710,000.

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.

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