Acadia Realty Trust (NYSE:AKR) Sees Large Increase in Short Interest

Acadia Realty Trust (NYSE:AKR) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 10,180,000 shares, an increase of 23.2% from the November 30th total of 8,260,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 7.6 days.

Acadia Realty Trust Stock Performance

Shares of NYSE AKR traded up $0.36 during midday trading on Tuesday, reaching $24.16. 356,614 shares of the company were exchanged, compared to its average volume of 1,074,614. The stock has a market cap of $2.89 billion, a P/E ratio of 268.44, a PEG ratio of 6.41 and a beta of 1.46. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29. The stock has a fifty day simple moving average of $24.83 and a 200 day simple moving average of $22.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.15%. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Institutional Investors Weigh In On Acadia Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in shares of Acadia Realty Trust by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,907 shares of the real estate investment trust’s stock worth $21,090,000 after acquiring an additional 8,739 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Acadia Realty Trust by 70.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,095 shares of the real estate investment trust’s stock valued at $1,256,000 after purchasing an additional 28,908 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Acadia Realty Trust by 39.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,375 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 5,722 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Acadia Realty Trust by 7.3% during the second quarter. Van ECK Associates Corp now owns 15,459 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 1,054 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Acadia Realty Trust by 22.7% in the second quarter. Natixis Advisors LLC now owns 27,321 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 5,048 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Analyst Upgrades and Downgrades

AKR has been the subject of several analyst reports. StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, Truist Financial increased their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Acadia Realty Trust has a consensus rating of “Hold” and a consensus target price of $22.40.

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 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.