In yesterday’s Wall Street session, Acadia Realty Trust (NYSE:AKR) shares traded at $14.42, up 0.21% from the previous session.
As of this writing, 7 analysts cover Acadia Realty Trust (NYSE:AKR). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $14.00, we find $15.50. Given the previous closing price of $14.39, this indicates a potential upside of 7.71 percent. AKR stock price is now 6.87% away from the 50-day moving average and 2.70% away from the 200-day moving average. The market capitalization of the company currently stands at $1.35B.
There are 4 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $16.17 as their price target over the next twelve months.
With the price target reduced from $17 to $16, KeyBanc Capital Markets Downgraded its rating from Overweight to Sector Weight for Acadia Realty Trust (NYSE: AKR).
In other news, CROCKER DOUGLAS II, Director bought 28,250 shares of the company’s stock on May 24. The stock was bought for $364,425 at an average price of $12.90. Upon completion of the transaction, the Director now directly owns 112,397 shares in the company, valued at $1.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 01, Director LUSCOMBE WENDY W sold 807 shares of the business’s stock. A total of $12,293 was realized by selling the stock at an average price of $15.23. This leaves the insider owning 37,614 shares of the company worth $0.54 million. Insiders disposed of 1,607 shares of company stock worth roughly $23172.94 over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AKR stock. A new stake in Acadia Realty Trust shares was purchased by UBS ASSET MANAGEMENT AMERICAS INC during the first quarter worth $7,079,000. POINT72 ASSET MANAGEMENT, L.P. invested $1,945,000 in shares of AKR during the first quarter. In the first quarter, UBS OCONNOR LLC acquired a new stake in Acadia Realty Trust valued at approximately $1,203,000. ERGOTELES LLC acquired a new stake in AKR for approximately $801,000. SEI INVESTMENTS CO purchased a new stake in AKR valued at around $792,000 in the second quarter. In total, there are 264 active investors with 104.84% ownership of the company’s stock.
During the past 12 months, Acadia Realty Trust has had a low of $12.28 and a high of $18.11. The fifty day moving average price for AKR is $13.49 and a two-hundred day moving average price translates $14.04 for the stock.
The latest earnings results from Acadia Realty Trust (NYSE: AKR) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.12 by 0.02. This compares to $0.18 EPS in the same period last year. The company reported revenue of $81.84 million for the quarter, compared to $81.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.41 percent. For the current quarter, analysts expect AKR to generate $73.25M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/30/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 4.99% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend.
Acadia Realty Trust(AKR) Company Profile
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.
