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

Acadia Realty Trust (NYSE:AKR) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 12,390,000 shares, an increase of 21.7% from the December 15th total of 10,180,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 9.2 days.

Acadia Realty Trust Trading Down 1.1 %

Shares of Acadia Realty Trust stock opened at $22.64 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $2.71 billion, a PE ratio of 251.59, a P/E/G ratio of 5.34 and a beta of 1.47. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. The company’s fifty day simple moving average is $24.42 and its 200-day simple moving average is $22.99.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company had revenue of $87.70 million during the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.36%. The ex-dividend date was Tuesday, December 31st. Acadia Realty Trust’s dividend payout ratio is currently 844.44%.

Analyst Ratings Changes

Several research firms recently commented on AKR. Compass Point raised 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 note on Thursday, October 10th. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Finally, Truist Financial lifted their target price on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Acadia Realty Trust presently has an average rating of “Hold” and a consensus target price of $23.00.

Hedge Funds Weigh In On Acadia Realty Trust

Hedge funds have recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of Acadia Realty Trust during the 3rd quarter valued at $80,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Acadia Realty Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,005 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,039 shares in the last quarter. Custom Index Systems LLC bought a new position in shares of Acadia Realty Trust in the third quarter worth about $202,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Acadia Realty Trust during the third quarter worth about $202,000. Finally, Algert Global LLC bought a new stake in Acadia Realty Trust during the 2nd quarter valued at approximately $186,000. 97.65% of the stock is currently owned by institutional investors.

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.