Take off with Acadia Realty Trust (AKR): Get ready for trading

Acadia Realty Trust (NYSE: AKR) stock fell -2.33% on Thursday to $12.59 against a previous-day closing price of $12.89. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.72 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $12.82 whereas the lowest price it dropped to was $12.37. The 52-week range on AKR shows that it touched its highest point at $20.10 and its lowest point at $12.28 during that stretch. It currently has a 1-year price target of $16.33. With its current market cap of 1.21 billion, AKR has annualized dividend of $0.72 while the current yield stands at 5.72%. Beta for the stock currently stands at 1.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AKR was down-trending over the past week, with a drop of -2.33%, but this was down by -1.56% over a month. Three-month performance dropped to -13.65% while six-month performance fell -16.07%. The stock lost -31.31% in the past year, while it has lost -12.26% so far this year. A look at the trailing 12-month EPS for AKR yields -0.42 with Next year EPS estimates of 0.17. For the next quarter, that number is 0.00. This implies an EPS growth rate of -246.60% for this year and 17.86% for next year. EPS is expected to grow by 3.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -20.40%.

Float and Shares Shorts:

At present, 95.19 million AKR shares are outstanding with a float of 94.22 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.83 million, which was 1.92% higher than short shares on Mar 30, 2023. In addition to Mr. Kenneth F. Bernstein as the firm’s Pres, CEO & Trustee, Mr. John Gottfried CPA serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 104.84% of AKR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.63% of AKR, in contrast to 39.05% held by mutual funds. Shares owned by individuals account for 3.27%. As the largest shareholder in AKR with 16.32% of the stake, BlackRock Fund Advisors holds 15,712,177 shares worth 15,712,177. A second-largest stockholder of AKR, The Vanguard Group, Inc., holds 15,434,338 shares, controlling over 16.03% of the firm’s shares. Cohen & Steers Capital Management is the third largest shareholder in AKR, holding 14,286,235 shares or 14.84% stake. With a 9.28% stake in AKR, the Cohen & Steers Real Estate Securi is the largest stakeholder. A total of 8,932,854 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 7.15% of AKR stock, is the second-largest Mutual Fund holder. It holds 6,879,130 shares valued at 92.94 million. Vanguard Real Estate Index Fund holds 4.34% of the stake in AKR, owning 4,172,696 shares worth 56.37 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AKR reported revenue of $84.26M and operating income of $13.43M. The EBITDA in the recently reported quarter was $52.64M and diluted EPS was -$0.00.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AKR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AKR analysts setting a high price target of $21.00 and a low target of $14.00, the average target price over the next 12 months is $16.33. Based on these targets, AKR could surge 66.8% to reach the target high and rise by 11.2% to reach the target low. Reaching the average price target will result in a growth of 29.71% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded AKR stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 21,700 shares were bought while 0 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 29,133 while 1,607 shares were sold.

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