Acadia Realty Trust (AKR) Given a $35.00 Price Target by Boenning Scattergood Analysts

Boenning Scattergood set a $35.00 price objective on Acadia Realty Trust (NYSE:AKR) in a report issued on Wednesday. The firm currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. KeyCorp cut shares of Acadia Realty Trust from an overweight rating to a hold rating in a report on Monday, November 20th. Zacks Investment Research cut shares of Acadia Realty Trust from a hold rating to a sell rating in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Acadia Realty Trust currently has an average rating of Hold and a consensus target price of $33.50.

Acadia Realty Trust (AKR) traded down $0.22 during trading on Wednesday, hitting $27.46. 588,000 shares of the stock traded hands, compared to its average volume of 519,380. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.48 and a current ratio of 0.48. Acadia Realty Trust has a fifty-two week low of $26.70 and a fifty-two week high of $34.30. The stock has a market cap of $2,316.98, a PE ratio of 18.09, a P/E/G ratio of 1.85 and a beta of 0.61.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Acadia Realty Trust had a net margin of 25.34% and a return on equity of 2.77%. The business had revenue of $51.70 million for the quarter, compared to analysts’ expectations of $55.94 million. During the same period in the previous year, the company posted $0.36 EPS. Acadia Realty Trust’s revenue was up 17.9% on a year-over-year basis. research analysts anticipate that Acadia Realty Trust will post 1.48 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a $0.27 dividend. The ex-dividend date is Thursday, December 28th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.93%. Acadia Realty Trust’s dividend payout ratio is currently 146.48%.

Large investors have recently modified their holdings of the stock. Westpac Banking Corp boosted its holdings in Acadia Realty Trust by 36.1% in the second quarter. Westpac Banking Corp now owns 453,919 shares of the real estate investment trust’s stock worth $12,619,000 after purchasing an additional 120,472 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Acadia Realty Trust by 7.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 129,661 shares of the real estate investment trust’s stock worth $3,618,000 after acquiring an additional 9,250 shares during the last quarter. Lazard Asset Management LLC lifted its position in Acadia Realty Trust by 86.8% during the 2nd quarter. Lazard Asset Management LLC now owns 20,446 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 9,500 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Acadia Realty Trust by 14.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 52,862 shares of the real estate investment trust’s stock worth $1,470,000 after acquiring an additional 6,680 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Acadia Realty Trust by 13.6% during the 2nd quarter. Legal & General Group Plc now owns 668,435 shares of the real estate investment trust’s stock worth $18,585,000 after acquiring an additional 80,206 shares during the last quarter.

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About Acadia Realty Trust

Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.

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