Zacks Investment Research downgraded shares of Acadia Realty Trust (NYSE:AKR) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

AKR has been the subject of several other reports. Compass Point started coverage on Acadia Realty Trust in a research note on Thursday, August 15th. They issued a buy rating and a $30.00 price target for the company. ValuEngine cut Acadia Realty Trust from a buy rating to a hold rating in a research note on Wednesday, June 12th. Finally, Citigroup set a $30.00 price target on Acadia Realty Trust and gave the company a hold rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $31.00.

Shares of NYSE:AKR opened at $27.79 on Tuesday. Acadia Realty Trust has a 12-month low of $23.11 and a 12-month high of $29.82. The stock has a market cap of $2.32 billion, a PE ratio of 20.59, a P/E/G ratio of 3.47 and a beta of 0.68. The business has a 50 day moving average of $27.60 and a 200-day moving average of $28.00. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.80.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $71.10 million during the quarter, compared to analysts’ expectations of $57.31 million. Acadia Realty Trust had a return on equity of 1.78% and a net margin of 13.32%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Equities research analysts expect that Acadia Realty Trust will post 1.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, September 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 82.96%.

In other Acadia Realty Trust news, CFO John J. Gottfried sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $27.78, for a total transaction of $833,400.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares in the company, valued at $833,400. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Conlon sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $27.83, for a total transaction of $556,600.00. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $278,300. The disclosure for this sale can be found here. Insiders own 2.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Capital Group LLC raised its position in Acadia Realty Trust by 31.5% during the first quarter. Private Capital Group LLC now owns 2,683 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 643 shares in the last quarter. Quadrant Capital Group LLC raised its position in Acadia Realty Trust by 3,884.3% during the first quarter. Quadrant Capital Group LLC now owns 3,307 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 3,224 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Acadia Realty Trust by 11.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,444 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 461 shares in the last quarter. Pearl River Capital LLC raised its position in Acadia Realty Trust by 3,138.0% during the first quarter. Pearl River Capital LLC now owns 6,476 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 6,276 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd acquired a new position in Acadia Realty Trust during the second quarter valued at approximately $201,000.

Acadia Realty Trust Company Profile

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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