Acadia Realty Trust (AKR) PT Set at $35.00 by Boenning Scattergood

Acadia Realty Trust (NYSE:AKR) has been given a $35.00 price objective by analysts at Boenning Scattergood in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Boenning Scattergood’s price target would indicate a potential upside of 26.45% from the stock’s current price.

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

Shares of Acadia Realty Trust (AKR) traded down $0.46 during mid-day trading on Wednesday, hitting $27.68. 476,700 shares of the stock were exchanged, compared to its average volume of 519,087. Acadia Realty Trust has a 52 week low of $26.70 and a 52 week high of $34.30. The firm has a market cap of $2,280.00, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.88 and a beta of 0.61. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.48.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $51.70 million during the quarter, compared to analysts’ expectations of $55.94 million. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue was up 17.9% on a year-over-year basis. research analysts forecast that Acadia Realty Trust will post 1.48 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its position in shares of Acadia Realty Trust by 135.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,116 shares in the last quarter. Royal Bank of Canada increased its position in shares of Acadia Realty Trust by 72.2% during the 2nd quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 2,775 shares in the last quarter. GAM Holding AG increased its position in shares of Acadia Realty Trust by 5.5% during the 2nd quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 356 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Acadia Realty Trust by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,376 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 472 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Acadia Realty Trust by 14.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,741 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 1,000 shares in 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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